Bitcoin Definition, Explanation, & History

a way that the wealthy could be using police violence against minorities to get even more wealthy

this is pure speculation.
here's the article that gave me a clue to how this could work. it's a scam. I'll lay it out below this link, just for the sake of discussion, like I said it's pure speculation.
https://www.cnn.com/2020/10/28/us/philadelphia-shooting-protests/index.html
so it's a pretty simple scam if you have adequate capital and sufficient time:
1) you find a neighborhood that's getting run down
2) you look around in that neighborhood, and you find a minority victim. somebody that could be believably shot by the police because he has a record or he's just a bad person, any excuse to make it believable.
3) you engineer a situation, where it just happens to come about that the police just happened to shoot that person, kill him dead. egg things on a little bit if you have to, buy a cop if there happens to be one for sale cheap enough; someone with access to criminal databases would be a real asset in finding a target.
4) you sit back and wait until the looting and burning is all done, and the place is just a total loss.
5) you sweep in and buy the real estate at way below market value, because nobody else wants to live there.
6) oh look a magical redevelopment, new condos starting at $750,000!
7) spend the money, or store it somewhere out of the country; probably put it in Bitcoin that seems to be the latest flavor of tulip this week.
now as I said, I don't have any facts to say that this is actually happening. it's just that I kind of got the stink of something that could be possible.
same methodology could be applying to forest fires in California for all I know.
so what do you guys think? I'm figuring a guy could probably get into that business for about half a million and no morals or ethics whatsoever. based on what I know about real estate investing, I think it could actually work if you qualified in the morals and ethics department. you'd probably see about maybe a hundred to one return on investment. over 3 to 5-year span I'd guess.
interesting thing is it makes it easy to verify, knowing the pattern all you have to do is look at these areas like the fires in California and see who's been buying a lot of real estate, if the patterns exist they ought to be pretty obvious I'd think.
remember folks this is all pure speculation for the purposes of discussion. I think I put that in the flair, but I'm not sure I poked all the right buttons.
submitted by blahfuggenblah to conspiracytheories [link] [comments]

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Public Proposal TL;DR:

Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and posts per Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625.
Watch Joe walk through the entire proposal and answer questions on YouTube.
This proposal is also available on the Dragonchain blog.

Hello Reddit and Ethereum community!

I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale.
For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube.
We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.

Executive summary

Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.

Response and PoC

In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.

Live Demo

A live proof of concept showing hundreds of thousands of transactions
On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks.
24 hours in 4 minutes (YouTube):
24 hours in 4 minutes
The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period.
Tooling to reproduce our demo is available here:
https://github.com/dragonchain/spirit-bomb

Source Code

Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.

Scaling

How it works & scales

Architectural Scaling

Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired.
Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.

Economic Scaling

An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity.
TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block.
TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.

Scaled Deployment

Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain.
With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times.
We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment.
Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.

Flexibility in Scaling

Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems.
We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
  • LBRY - To allow users to deploy content natively to LBRY
  • MakerDAO to allow users to lend small amounts backed by their Reddit community points.
  • STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.

Cost

Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).
On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction.
Dragonchain Fees Table

Getting Started

How to run it
Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node.
Getting started is easy...
  1. Download Dragonchain’s dctl
  2. Input three commands into a terminal
  3. Build an image
  4. Run it
More information can be found in our Get started documents.

Architecture
Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain.
Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain.
After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks.
Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.

API Documentation

APIs (on chain & off)

SDK Source

Nobody’s Perfect

Known issues or tradeoffs
  • Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
  • While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
  • Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.

Costs and resources

Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD.
For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments.
Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.

Requirements

Scaling

This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.
Over a 5 day period, your scaling PoC should be able to handle:
*100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers
During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes.
Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum.
Reddit Scaling on Ethereum

Decentralization

Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider
Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
  • Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
  • Operational multi-cloud
  • Operational on-premises capabilities
  • Operational deployment to any datacenter
  • Over 700 independent Community Verification Nodes with proof of ownership
  • Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)

Usability Scaling solutions should have a simple end user experience.

Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node.
Examples:

Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.

Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users.
All of Reddit's Transactions on Blockchain (month)
Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees.
Reddit Internal Token Transaction Fees

Reddit Ethereum Token Transaction Fees
When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
  1. Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
  2. Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
  3. In a combination of the above, customers could cover aggregated fees.
  4. Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.

Bonus Points

Users should be able to view their balances & transactions via a blockchain explorer-style interface
From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here.
Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here.
In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here.
A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.

Exiting is fast & simple
Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.

Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.
Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.

Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible
APIs should be well documented and stable

Documentation should be clear and complete
For full documentation, explore our docs, SDK’s, Github repo’s, architecture documents, original Disney documentation, and other links or resources provided in this proposal.

Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.
Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.

Bonus

Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!

TIME

Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.

Dragon Den

Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR.
Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.

Security. Users have full ownership & control of their points.
All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.

Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.

Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw

Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.

A public, third-party review attesting to the soundness of the design should be available
To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.

Bonus points
Public, third-party implementation review available or in progress
See above

Compatibility with HSMs & hardware wallets
For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.

Other Considerations

Minting/distributing tokens is not performed by Reddit directly
This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.

One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable
This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).

Fully open-source solutions are strongly preferred
Dragonchain is fully open source (see section on Disney release after conclusion).

Conclusion

Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!

Disney Releases Blockchain Platform as Open Source

The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group.
https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html

Open Source

In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney.
Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
  • Obtain VP support and approval for the release
  • Verify ownership of the software to be released
  • Verify that no proprietary content would be released
  • Convince the organization that there was a value to the open source community
  • Convince the organization that there was a value to Disney
  • Offer the plan for ongoing maintenance of the project outside of Disney
  • Itemize competing projects
  • Verify no conflict of interest
  • Preferred license
  • Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
  • Obtain legal approval
  • Approval from corporate, parks, and other business units
  • Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
  • Trademark searches conducted for the selected name Dragonchain
  • Obtain IT security approval
  • Manual review of OSS components conducted
  • OWASP Dependency and Vulnerability Check Conducted
  • Obtain technical (software) approval
  • Offer management, process, and financial plans for the maintenance of the project.
  • Meet list of items to be addressed before release
  • Remove all Disney project references and scripts
  • Create a public distribution list for email communications
  • Remove Roets’ direct and internal contact information
  • Create public Slack channel and move from Disney slack channels
  • Create proper labels for issue tracking
  • Rename internal private Github repository
  • Add informative description to Github page
  • Expand README.md with more specific information
  • Add information beyond current “Blockchains are Magic”
  • Add getting started sections and info on cloning/forking the project
  • Add installation details
  • Add uninstall process
  • Add unit, functional, and integration test information
  • Detail how to contribute and get involved
  • Describe the git workflow that the project will use
  • Move to public, non-Disney git repository (Github or Bitbucket)
  • Obtain Disney Open Source Committee approval for release
On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney.
The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release.
Original OSSRELASE-10 document

Dragonchain Foundation

The Dragonchain Foundation was created on January 17, 2017. https://den.social/l/Dragonchain/24130078352e485d96d2125082151cf0/dragonchain-and-disney/
submitted by j0j0r0 to ethereum [link] [comments]

Why the stock to flow model is nonsense, but bitcoin may continue to follow it for a few more years

Bitcoin stock to flow model is wrong because:
The basis of the entire model assumes that halvings create exponential price increases because miners lose half of their ability to depress price. Bitcoin inflation year over year inflation rate is ALREADY less than 2%, so whether that rate is 1%, 0.5%, or 0.25%, miners have no tangible effect on price because it's already practically zero. The stock to flow ratio might matter when only 4,000,000/21,000,000 were mined, but with 19,000,000/21,000,000 mined, the introduction of those last two million coins over the span of a hundred years will mean nothing going forward. For all intents and purposes, you are better off assuming bitcoin is already at 21 million and that there are no more coins left to mine.
Bitcoin might follow the stock to flow model anyway for the next few years, because one word: demand
The volatility index of bitcoin has been sitting at all time lows for the last year but the price is trending slightly up, usually that's indicative of an asset that is consolidating for a massive breakout. Think of bitcoin in 2016 as a good comparison. Of course bitcoin does not have a tangible intrinsic value per se, but it has an intangible value and that is: trust. Despite being in a nasty multiyear bear market, the on chain metrics for bitcoin have been pointing north the whole time. The people who believe in the fundamentals, the ones who believe in bitcoin are the ones keeping it alive and it's still growing in the background. The global economic circumstances with unlimited quantitative easing are favoring hard assets, and bitcoin is about as hard as it gets. Smart money aka institutions and hedge funds are buying bitcoin right now. Usually the entrance of smart money is a sign further appreciation is coming.
This might be bitcoin's last exponential bullrun. At some point, market capitalization gets so high that it just can't mathematically appreciate exponentially anymore. At 200 billion, the marketcap is already pressing on those limits, but with the increased demand I'm forecasting is coming, I think bitcoin will have one last hurrah to levels in the multi-trillions. Unless Zimbabwe style hyperinflation is coming, bitcoin will find a ceiling that it will never touch again and peak.
submitted by ShotBot to CryptoCurrency [link] [comments]

Price increase drives 98% of Bitcoin holders into a state of profit.

Price increase drives 98% of Bitcoin holders into a state of profit.
by Mickael Mosse
The price of bitcoin jumped significantly on Wednesday after the payment processor Paypal announced cryptocurrency support. The jump in value has pushed a large number of bitcoin holders into a state of profit, according to Glassnode “percent of UTXOs in profit” statistics. Based on the current data, 98% of all bitcoin UTXOs are in a state of profit touching levels previously recorded three years ago in December 2017.
The price of bitcoin (BTC) closed at a high at $13,184 per coin on Wednesday, October 21 following the announcement from Paypal. During the evening trading sessions, the onchain research and analysis firm Glassnode tweeted about the number of bitcoin unspent transaction outputs (UTXOs) in profit. A UTXO refers to the amount of bitcoin someone holds that has not been spent and is simply stored in a bitcoin wallet.
“98% of all bitcoin UTXOs are currently in a state of profit,” Glassnode tweeted. “A level not seen since Dec 2017, and typical in previous BTC bull markets.”

https://preview.redd.it/1dtqk311dvu51.png?width=1450&format=png&auto=webp&s=67b10a88f9891ade45f459dcf03fc70bad23b5c9
Since then the price has dropped a hair but the price of bitcoin (BTC) is still up 4.3% over the last seven days. Long term holders have seen a 72.4% increase during the last 12 months, 34.9% during the last 90-days and 22% against the 30-day span. Glassnode’s onchain stats report, details that the subindex measuring investor “sentiment” increased ending the week “at 70 points.”
A number of crypto analysts and traders believe that bitcoin’s current price range is a key indicator for moving forward. Moreover, BTC’s dominance level, it’s market cap measured against all 7,000+ crypto assets, has risen to 63.2%. The senior financial analyst at Fxpro, Alex Kuptsikevich, believes bitcoin is testing crucial macro levels.
“At current levels, Bitcoin is testing cyclical highs,” Kuptsikevich wrote in a note to investors. “Since the beginning of 2018, it has not been able to gain a foothold at levels above $12,000. It is equally important that at new highs, indicators like the RSI are far from the overbought condition, indicating significant potential for further growth. Closing the week above $12,800 would be the highest level in two and a half years, opening a direct path of growth to the historic highs of $20,000 that we saw three years ago.”
Kuptsikevich added:
Bitcoin breaking through two round levels of $12k and $13k opens doors for further growth. The current price dynamics led the coin to re-test the peak of july 2019, which at that time was the highest point of the rally. Nowadays, purchases take place against the background of confidence that bitcoin has more and more supporters in the traditional financial world.
Eric Demuth, cofounder and CEO of Bitpanda believes that cryptocurrencies, in general, started to “establish themselves as a trusted asset class of the worldwide financial market such as gold and stocks.” Demuth thinks that the Paypal support announced on Wednesday is just the start, as he believes more large players will be joining the crypto party.
“2020 has shown that crypto is here to stay,” Demuth explained. “There has been a huge inflow of institutional capital as well as record numbers of new retail customers adopting cryptocurrencies. I am certain we will see more big players like Paypal joining the party in 2021.”
Read the article here:https://mickaelmosse.com/price-increase-drives-98-of-bitcoin-holders-into-a-state-of-profit/
And don't miss out on any bitcoin news, daily on the mickaelmosse.com app.
submitted by williamsouza10 to u/williamsouza10 [link] [comments]

The Wonders of Government Backstopped Promissory Notes..

Scientific Gaming Corporation (SGMS) is a very strange company. The operating income is fabulous, but when you factor in the gargantuan yearly interest payments, they consistently end up losing money. Over the 3 fiscal years spanning 2016-2018, they paid $1.86 billion in interest while generating only $788 million in operating income.
What's worse is that even though this has been going on for almost two decades now, you can still only count on one hand how many times that they've booked a yearly profit.
SGMS is, of course, a big player in gambling industry.
For a lender to be profiting to that extent from the gambling industry, while at the same time providing little in terms of real tangible value to the company (all they did was loan the company money), seems almost equivalent to banks laundering 100's of billions for drug kingpins..
Could you imagine a situation where the fed, through its unprecedented entry into the HY corporate bond market, were to backstop SGMS's promissory notes through direct purchases in secondary markets..
Through their previously implemented Primary Dealer Credit Facility (PDCF), the fed has already agreed to swap equities for 3 month term loans. This, of course, would've been completely okay, but let's not forget, on March 17, 2020, the market was in freefall, so there was no way to reasonably price the collateral being exchanged to, as it says specifically in the federal reserve act, protect tax payers from losses.
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https://preview.redd.it/bys73bc69pu51.jpg?width=1200&format=pjpg&auto=webp&s=d7377e54df5681473bbaed2962919e084b305554
Term Sheet for Primary Dealer Credit Facility (PDCF)
"Collateral eligible for pledge under the PDCF includes all collateral eligible for pledge in open market operations (OMO);1 plus investment grade corporate debt securities, international agency securities, commercial paper, municipal securities, mortgage-backed securities, and asset-backed securities;2 ***plus equity securities.**** Foreign currency-denominated securities are not eligible for pledge under the PDCF at this time.
" The PDCF functioned as an overnight loan facility for primary dealers (Investment Banks), similar to the way the Federal Reserve's discount window provides a backup source of funding to depository institutions.

Considering the reversal starting in .March.23RD, 2020 (while the entire world was shutdown, and during America's worst GDP quarter in its 244 year history), it almost makes you question whether certain insiders knew what was going to happen..If you can simply exchange equities for short term cash, and receive these equities back after up to 90 days, if the stock market breaks momentum records during the lifespan of the exchange, that's a double win. Not only could you have purchased equities at the bottom with your own secret little fed subsidized margin account, but you could also receive the equities that you used to borrow the money to buy the new equities near the bottom back for the cash
submitted by interestingstuff6 to business [link] [comments]

How YFI came out of nowhere to become the fastest coin to reach $1B and the fastest coin to ever get listed on Coinbase

Note: As mentioned to the original 624 Reddit subscribers, there will be $YFI based Exclusive Original Content released here by myself and others from time to time. These kinds of interactive Deep Dives with a Q&A with fellow Investors / Beta Testers right afterwards is a rare thing in Crypto, and will only be found with this level of immediacy, social interaction, permanence, depth, and complexity of analysis and feedback on a platform like Reddit.

A lot of projects have low innovation, just copying something that someone else has already done, but with small tweaks to things like variables in Smart Contracts. A few rare projects have genuine innovation, providing genuine value to investors and users by providing attractive new products that simplify a lot of things in this space.
Even rarer are the Unicorns that not only have innovation, but they have innovation in spades, oozing out of every pore. $YFI is one of these types of Unicorns. The scope of products and rapidity of release of new revolutionary products of this project has been simply unmatched in the short history of Crypto.
Since 2009, the world of crypto has never seen anything like this lightning fast pace of development spanning such a wide scope of products - optimized automated yield farming and lending that relentlessly hunts the best yields, crypto insurance on Smart Contracts, a revolutionary Stablecoin idea that essentially makes a USD altcoin "smart" with built-in yield farming capabilities for the first time, to name a few - all built by a genius Smart Contract Builder who provided the world the first Fair Launch token.
Key to wrapping your head around the advantages that the yEarn Finance ecosystem has over - well, every single other option out there at this time - are the concepts below:

  1. CeFi vs. DeFi
  2. Composability
  3. Smart Contract Stacking
  4. The power of a Talented and Diverse DAO

To discuss these concepts, and to educate beginners, we have to understand what the terms above truly mean. This post doesn't discuss any particular products and their advantages, only the systemic advantages that are available only to $YFI. This project seems to attract the smartest and the highest risk taking of crypto investors, and an important thing in truly understanding all of the risks involved, is that you have to know the terms and concepts first. Even veteran crypto and DeFi users may be thrown for a loop by some of the innovative products and concepts that keep coming out of the YFI Labs.
This project is going through an expansion phase, where the scope of everything and the reach of the various released products is increasing (Insurance, A truly pegged Stablecoin, yETH Version 2, ySwap, yLiquidate, etc, etc..)
You know that there's some motherforker or twenty that is now just avidly waiting for every piece of code that Andre drops onto GitHub, so that they can be among the first to copy it verbatim then claim it as "their own variation" because they changed some variables and titles. Yawn.
From the definitive glossary for the DeFi space - yet another $YFI innovation - I'll list their definitions below. These may not be their final definitions when I finish any V1.1 edits to it, but they're good enough for now, and at least 3 or more YFI Dev Team members have read, reviewed, or edited these definitions. I've also invited my fellow Beta testers to provide comments to my RFC on this subreddit and in the Governance forum (among the documentation volunteers).
Yes, this is how early DeFi investors are in the development and maturation of the DeFi space. Anyone reading this right now is so early into DeFi's evolution that the terms used for this space are literally still being finalized by the community.
I've given a little bit of a sneak peek into how technical documentation is somehow self-organized in a powerful DAO such as this one. In this example, it starts off with a call for help on Twitter to improve our documentation by tracheopteryx. Interested and qualified volunteers show up (or don't) when such a call is made.
Your writers and editors have spent many a moment pondering off into space debating whether this term really means this or that, or if the term was either succinctly described, or fully sufficient. It's a usually thankless and anonymous job, that is critical in providing enough relevant information to its users and investors. [Note: Just like anything you see related to the $YFI project: You can help us improve this documentation - any of it - if you see errors or better ways of describing this information.]
All terms are shamelessly plagiarized from myself and my fellow writeeditors - u/tracheopteryx and Franklin - from the draft definitions in our new DeFi glossary: https://docs.yearn.finance/defi-glossary

1. CeFi vs. DeFi
CeFi - Centralized Finance. In terms of cryptocurrency, CeFi is represented by centralized cryptocurrency exchanges, businesses or organizations with a physical address, and usually with some sort of corporate structure. These CeFi businesses must follow all applicable laws, rules, and regulations in each country, state, or region in which they operate.
DeFi - DeFi, or Decentralized Finance, is at its root a set of Smart Contracts running independently on blockchains such as the Ethereum network. Smart Contracts may or may not interact with other smart contracts and even other blockchains.
The goal of DeFi is to enhance profitability of investors in DeFi through automated smart contracts seeking to maximize yields for invested funds. DeFi is marked by rapid innovative progression and testing of new ideas and concepts.
DeFi often involves high risk investing sometimes involving smart contracts that have not been audited or even thoroughly reviewed (a review is not as comprehensive as an audit, but may be also be included as part of an audit). Due to this and other reasons, DeFi is conventionally considered to be more risky than CeFi or traditional investing.
Comment: DeFi is higher risk, partly because it moves so fast. A lot of yams, hot dogs, and sushi can get lost when you move so fast that you can't even bother to do a thorough audit before releasing code. The cream of the crop projects will all have had multiple audits done by multiple independent auditors. Auditors are expensive. At such an embryonic stage, most projects can't afford to have one audit done let alone 5.
But if you can live with that higher risk intrinsic in DeFi and be willing to be a part of "testing in prod," then financial innovation can truly blossom. And if you let your best and brightest members of your community focus only on doing what they do best, then they don't have to bother to try to grow a business like a Bezos, Musk, or a Zuckerberg. Innovative entrepreneurs in this mold such as Andre, don't have to even try to do this business growth on their own because the DAO sets it up so that they don't have to do this. The DAO both grows the business while supporting and allowing these innovators to simply innovate, instead of trying to get nerds to do backroom deals to gain market share and access to new customers. It turns out that nerds are much more productive when you just let them be a nerd in their labs.

  1. Composability
Composability - The measure of the usability and ability of a product to be used as a building block (or "money lego") in the construction of other products or domains. A protocol that is simple, powerful, and that functions well with other protocols would be considered to have high composability.
Comment: The maturity of the cryptocurrency ecosystem and the evolution of composable building tools in the DeFi space now make new products and concepts available. $YFI would not have been possible only 2 or 3 years ago; the tools and ecosystem simply weren't ready for it yet.
This is why only now are you and many other now hearing about YFI. In 2018, Andre began providing free code reviews to Crypto Briefing. Andre had to learn to walk before he could run, and the composable tools needed to work on embryonic ideas in his head were simply not ready or available then. By reading and reviewing so many Smart Contracts he learned to recognize good code from bad code at what was still a very early stage in Smart Contract development in 2018, only 3 years after ETH's launch in July 2015.

  1. Smart Contract Stacking
Smart Contracts - A digital contract that is programmed in a language that is considered Turing complete, meaning that with enough processing power and time, a properly programmed Smart Contract should be able to use its code base and logical algorithms to perform almost any digital task or process. Ethereum's programming languages, such as Solidity and Vyper, are Turing complete.
Comment: Smart Contracts have actually gotten smarter since ETH launched in July 2015. It's because Smart Contract builders needed to learn Solidity and how it functions and interoperates before they could spread their wings as designers. With more time and experience under their belts, the early SC builders that stuck to it have gotten much better.
In Andre Cronje, we may have been witness to the rise of the next Satoshi or Vitalik of crypto. There is a reason that a couple of days ago, I counted 6 of 41 YF clones - nearly 15% - among the top gainers on the day. Success breeds copycats showing a ton of flattery. A smart contract is so smart, it can be used to be stacked upon other smart contracts such as at Aave or Maker.
True innovation takes time, sacrifice, blood, sweat, and tears. It does not come without cost to those doing the innovating.
There is not a single project in DeFi, CeFi, or even all of cryptocurrency that can claim the breadth and diversity of innovation and product reach that is found in the $YFI ecosystem. As a tech investor and professional nerd who's been involved at Research Labs and around product development and testing since before the year 2000. Prior to that I've ready widely and keenly to keep up with technological changes and assess investment potential in these disruptive changes nearly my whole life.
The amount of innovation shown in this project is breathtaking if you're a Tech or FinTech researcher. It's being released at a ridiculously rapid pace that is simply unmatched in any private or government research lab anywhere, let alone at any CeFi or traditional financial institution one can name. The only comparable levels of innovation shown by this young project is typically only seen during periods of epochal changes such as The Renaissance or times of strife and war, such as World War II.
Unless you've been in the industry and working with coders: I don't think those that haven't been around software development and testing can understand, can truly grasp that no one, no group does this. This isn't normal. This rapid-fire release of truly innovative code and intelligent strategies would have to be comparable to some of the greatest creative periods of human ingenuity and creativity. It's truly on par with periods of brilliance seen by thinkers like Newton, Einstein and Tesla, except with software code and concepts in decentralized finance. When the history of FinTech writes this chapter in its history, $YFI may need its own section or chapter.
Don't forget all of these financial instruments we take for granted all around us, all had a simple start somewhere, whether it was an IOU system of credit, insurance, stocks, bonds, derivatives, futures, options, and so on...they all started off as an idea somewhere that had to get tested sooner or later "in production."
One brilliant aspect of $YFI Smart Contracts is that they're built as a profitable layer atop existing DeFi protocols, extracting further value from base crypto assets and even primary crypto derivatives. $YFI is built atop existing smart contracts to create further value where there was none before, and help maximize gains for long term investors.

  1. The Power of a Talented and Diverse DAO
DAO - Distributed Autonomous Organization. The first DAO was started in 2016. According to Wikipedia's definition, it is an: "organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. A DAO's financial transaction record and program rules are maintained on a blockchain."
When implemented well, a DAO allows for real world experiments in decentralized democratic organization and control, with more freedom of action and less regulatory oversight for DAO controlled projects and products when compared to legacy corporate structures and organizations.
Comment: yEarn Finance has shown us what a properly motivated and sufficiently powerful DAO can do in a short amount of time.
There's many reasons why this project with an already profitable business model is the fastest original project in history to ever reach a $1B marketcap in any market - traditional or crypto - accomplishing this amazing feat in less than two months. There's reasons why this is probably the fastest coin in history to get listed on Coinbase in less than 2 months.
The power of a sufficiently talented and diverse development team and community is stunning in its power, speed, and ability to get things done quickly. There are risks aplenty with parts of this project, but $YFI is now seen as a "safe" place in DeFi, because you know you that as far as yield farming you probably couldn't do it better yourself unless you took a chance on unaudited code with anonymous Devs, or you were doing the trading equivalent of throwing darts blindfolded and somehow won, except that you even more improbably kept doing that over and over and winning.

Summary: There's reasons why YFI has been called the Bitcoin of DeFi and the Berkshire Hathaway Series A of crypto. I've listed some of the reasons above. The confluence of these 4 factors has helped lead to explosive growth for this project.
This isn't financial advice as I'm not a financial pro but make no mistake: as a Crypto OG around crypto since early 2013, who was deeply involved in multiple community projects as an early organizer, and who was a small investor during the DotCom era investing in early giants that went on to be gorillas, I don't say this lightly that the $YFI project is lightning in a bottle and a diamond in the rough.
What $YFI allows, when all is said and done, is the rapid fire implementation of great ideas that have gone through a rapid Darwinian evolution, where only the best ideas are implemented. Thoughts and ideas are powerful things. The valuation of this coin and ecosystem has to, it must take into account that this nascent financial innovation hub and ecosystem actually works and allows the best of these ideas to actually blossom rapidly.
You just don't find too many gems like this.
submitted by CryptoOGkauai to yearn_finance [link] [comments]

NEAR PROJECT REPORT

NEAR PROJECT REPORT
Author: Gamals Ahmed, CoinEx Business Ambassador
https://preview.redd.it/xbnvecjn71t51.png?width=1164&format=png&auto=webp&s=acfd141ead035ee156f218eec9fc41288142a922

ABSTRACT

The effects of the web by a number of companies have seduced a large number of users as these companies keep their data to prevent them from searching for alternatives. Likewise, these huge platforms have attracted applications to build their highest ecosystems before either severing access or actively opposing their interests when the applications became so successful. As a result, these walled gardens have effectively hindered innovation and monopolized large sections of the web. After the emergence of blockchain technology and decentralized cryptocurrencies, the need for applications to support decentralization has emerged. Several blockchain-based companies, applications and platforms have appeared in decentralization. In this research report, we will explain the approach adopted by the NEAR decentralization platform in designing and implementing the basic technology for its system. Near is a basic platform for cloud computing and decentralized storage managed by the community, designed to enable the open web for the future. On this web, everything can be created from new currencies to new applications to new industries, opening the door to an entirely new future.

1. INTRODUCTION

The richness of the web is increasing day by day with the combined efforts of millions of people who have benefited from “innovation without permission” as content and applications are created without asking anyone. this lack of freedom of data has led to an environment hostile to the interests of its participants. And as we explained in the summary previously, web hosting companies have hindered innovation and greatly monopolized the web.
In the future, we can fix this by using new technologies to re-enable the permissionless innovation of the past in a way, which creates a more open web where users are free and applications are supportive rather than adversarial to their interests.
Decentralization emerged after the global financial crisis in 2008, which created fundamental problems of confidence in the heavily indebted banking system. Then the decentralized financial sector based on Blockchain technology has emerged since 2009.
Decentralized Blockchain technology has made it easy for decentralized digital currencies like Bitcoin to exchange billions of dollars in peer-to-peer transfers for a fraction of the price of a traditional banking system. This technology allows participants in the over $ 50 billion virtual goods economy to track, own and trade in these commodities without permission. It allows real-world goods to cross into the digital domain, with verified ownership and tracking just like that of the digital.
By default, the Internet where freedom of data enables innovation will lead to the development of a new form of software development. On this web, developers can quickly create applications from open state components and boost their efforts by using new business models that are enabled from within the program itself rather than relying on parasitic relationships with their users. This not only accelerates the creation of applications that have a more honest and cooperative relationship with its users, but also allows the emergence of completely new business built on them.
To enable these new applications and the open web, it needs the appropriate infrastructure. The new web platform cannot be controlled by a single entity and its use is not limited due to insufficient scalability. It should be decentralized in design like the web itself and supported by a community of distributors widely so that the value they store cannot be monitored, modified or removed without permission from the users who store this value on their behalf.
A new decentralization technology (Blockchain), which has facilitated decentralized digital currencies like Bitcoin, has made billions of dollars in peer-to-peer transfers at a fraction of the price of the traditional banking system. This technology allows participants in the $ 50 billion + virtual goods economy to track, own and trade in these goods without permission. It allows real-world goods to cross into the digital domain, with verified ownership and tracking just like that of the digital.
Although the cost of storing data or performing a calculation on the Ethereum blockchain is thousands and millions of times higher than the cost of performing the same functionality on Amazon Web Services. A developer can always create a “central” app or even a central currency for a fraction of the cost of doing the same on a decentralized platform because a decentralized platform, by definition, will have many iterations in its operations and storage.
Bitcoin can be thought of as the first, very basic, version of this global community-run cloud, though it is primarily used only to store and move the Bitcoin digital currency.
Ethereum is the second and slightly more sophisticated version, which expanded the basic principles of Bitcoin to create a more general computing and storage platform, though it is a raw technology, which hasn’t achieved meaningful mainstream adoption.

1.1 WHY IS IT IMPORTANT TO PAY THE EXTRA COST TO SUPPORT DECENTRALIZATION?

Because some elements of value, for example bits representing digital currency ownership, personal identity, or asset notes, are very sensitive. While in the central system, the following players can change the value of any credits they come into direct contact with:
  1. The developer who controls the release or update of the application’s code
  2. The platform where the data is stored
  3. The servers which run the application’s code
Even if none of these players intend to operate with bad faith, the actions of governments, police forces and hackers can easily turn their hands against their users and censor, modify or steal the balances they are supposed to protect.
A typical user will trust a typical centralized application, despite its potential vulnerabilities, with everyday data and computation. Typically, only banks and governments are trusted sufficiently to maintain custody of the most sensitive information — balances of wealth and identity. But these entities are also subject to the very human forces of hubris, corruption and theft.
Especially after the 2008 global financial crisis, which demonstrated the fundamental problems of confidence in a highly indebted banking system. And governments around the
world apply significant capital controls to citizens during times of crisis. After these examples, it has become a truism that hackers now own most or all of your sensitive data.
These decentralized applications operate on a more complex infrastructure than today’s web but they have access to an instantaneous and global pool of currency, value and information that today’s web, where data is stored in the silos of individual corporations, cannot provide.

1.2 THE CHALLENGES OF CREATING A DECENTRALIZED CLOUD

A community-run system like this has very different challenges from centralized “cloud” infrastructure, which is running by a single entity or group of known entities. For example:
  1. It must be both inclusive to anyone and secure from manipulation or capture.
  2. Participants must be fairly compensated for their work while avoiding creating incentives for negligent or malicious behavior.
  3. It must be both game theoretically secure so good actors find the right equilibrium and resistant to manipulation so bad actors are actively prevented from negatively affecting the system.

2. NEAR

NEAR is a global community-run computing and storage cloud which is organized to be permissionless and which is economically incentivized to create a strong and decentralized data layer for the new web.
Essentially, it is a platform for running applications which have access to a shared — and secure — pool of money, identity and data which is owned by their users. More technically, it combines the features of partition-resistant networking, serverless compute and distributed storage into a new kind of platform.
NEAR is a community-managed, decentralized cloud storage and computing platform, designed to enable the open web in the future. It uses the same core technology for Bitcoin and Blockchain. On this web, everything can be created from new currencies to new applications to new industries, opening the door to an entirely new future.
NEAR is a decentralized community-run cloud computing and storage platform, which is designed to enable the open web of the future. On this web, everything from new currencies to new applications to new industries can be created, opening the door to a brand new future.
NEAR is a scalable computing and storage platform with the potential to change how systems are designed, how applications are built and how the web itself works.
It is a complex technology allow developers and entrepreneurs to easily and sustainably build applications which reap the benefits of decentralization and participate in the Open Web while minimizing the associated costs for end users.
NEAR creates the only community-managed cloud that is strong enough to power the future of the open web, as NEAR is designed from the ground up to deliver intuitive experiences to
end users, expand capacity across millions of devices, and provide developers with new and sustainable business models for their applications.
The NEAR Platform uses a token — also called “NEAR”. This token allows the users of these cloud resources, regardless of where they are in the world, to fairly compensate the providers of the services and to ensure that these participants operate in good faith.

2.1 WHY NEAR?

Through focus, we find that Platforms based on blockchain technologies like Bitcoin and Ethereum have made great progress and enriched the world with thousands of innovative applications spanning from games to decentralized financing.
However, these original networks and none of the networks that followed were not able to bridge the gap towards mainstream adoption of the applications created above them and do not provide this type of standard that fully supports the web.
This is a result of two key factors:
  1. System design
  2. Organization design
System design is relevant because the technical architecture of other platforms creates substantial problems with both usability and scalability which have made adoption nearly impossible by any but the most technical innovators. End-users experience 97–99% dropoff rates when using applications and developers find the process of creating and maintaining their applications endlessly frustrating.
Fixing these problems requires substantial and complex changes to current protocol architectures, something which existing organizations haven’t proven capable of implementing. Instead, they create multi-year backlogs of specification design and implementation, which result in their technology falling further and further behind.
NEAR’s platform and organization are architected specifically to solve the above-mentioned problems. The technical design is fanatically focused on creating the world’s most usable and scalable decentralized platform so global-scale applications can achieve real adoption. The organization and governance structure are designed to rapidly ship and continuously evolve the protocol so it will never become obsolete.

2.1.1 Features, which address these problems:

1. USABILITY FIRST
The most important problem that needs to be addressed is how to allow developers to create useful applications that users can use easily and that will capture the sustainable value of these developers.
2. End-User Usability
Developers will only build applications, which their end users can actually use. NEAR’s “progressive security” model allows developers to create experiences for their users which more closely resemble familiar web experiences by delaying onboarding, removing the need for user to learn “blockchain” concepts and limiting the number of permission-asking interactions the user must have to use the application.
1. Simple Onboarding: NEAR allows developers to take actions on behalf of their users, which allows them to onboard users without requiring these users to provide a wallet or interact with tokens immediately upon reaching an application. Because accounts keep track of application-specific keys, user accounts can also be used for the kind of “Single Sign On” (SSO) functionality that users are familiar with from the traditional web (eg “Login with Facebook/Google/Github/etc”).
2. Easy Subscriptions: Contract-based accounts allow for easy creation of subscriptions and custom permissioning for particular applications.
3. Familiar Usage Styles: The NEAR economic model allows developers to pay for usage on behalf of their users in order to hide the costs of infrastructure in a way that is in line with familiar web usage paradigms.
4. Predictable Pricing: NEAR prices transactions on the platform in simple terms, which allow end-users to experience predictable pricing and less cognitive load when using the platform.

2.1.2 Design principles and development NEAR’s platform

1. Usability: Applications deployed to the platform should be seamless to use for end users and seamless to create for developers. Wherever possible, the underlying technology itself should fade to the background or be hidden completely from end users. Wherever possible, developers should use familiar languages and patterns during the development process. Basic applications should be intuitive and simple to create while applications that are more robust should still be secure.
2. Scalability: The platform should scale with no upper limit as long as there is economic justification for doing so in order to support enterprise-grade, globally used applications.
3. Sustainable Decentralization: The platform should encourage significant decentralization in both the short term and the long term in order to properly secure the value it hosts. The platform — and community — should be widely and permissionlessly inclusive and actively encourage decentralization and participation. To maintain sustainability, both technological and community governance mechanisms should allow for practical iteration while avoiding capture by any single parties in the end.
4. Simplicity: The design of each of the system’s components should be as simple as possible in order to achieve their primary purpose. Optimize for simplicity, pragmatism and ease of understanding above theoretical perfection.

2.2 HOW NEAR WORKS?

NEAR’s platform provides a community-operated cloud infrastructure for deploying and running decentralized applications. It combines the features of a decentralized database with others of a serverless compute platform. The token, which allows this platform to run also, enables applications built on top of it to interact with each other in new ways. Together, these features allow developers to create censorship resistant back-ends for applications that deal with high stakes data like money, identity, assets, and open-state components, which interact seamlessly with each other. These application back-ends and components are called “smart contracts,” though we will often refer to these all as simply “applications” here.
The infrastructure, which makes up this cloud, is created from a potentially infinite number of “nodes” run by individuals around the world who offer portions of their CPU and hard drive space — whether on their laptops or more professionally deployed servers. Developers write smart contracts and deploy them to this cloud as if they were deploying to a single server, which is a process that feels very similar to how applications are deployed to existing centralized clouds.
Once the developer has deployed an application, called a “smart contract”, and marked it unchangeable (“immutable”), the application will now run for as long as at least a handful of members of the NEAR community continue to exist. When end users interact with that deployed application, they will generally do so through a familiar web or mobile interface just like any one of a million apps today.
In the central cloud hosted by some companies today like: Amazon or Google, developers pay for their apps every month based on the amount of usage needed, for example based on the number of requests created by users visiting their webpages. The NEAR platform similarly requires that either users or developers provide compensation for their usage to the community operators of this infrastructure. Like today’s cloud infrastructure, NEAR prices usage based on easy to understand metrics that aren’t heavily influenced by factors like system congestion. Such factors make it very complicated for developers on alternative blockchain-based systems today.
In the centralized cloud, the controlling corporation makes decisions unilaterally. NEAR community-run cloud is decentralized so updates must ultimately be accepted by a sufficient quorum of the network participants. Updates about its future are generated from the community and subject to an inclusive governance process, which balances efficiency and security.
In order to ensure that the operators of nodes — who are anonymous and potentially even malicious — run the code with good behavior, they participate in a staking process called “Proof of Stake”. In this process, they willingly put a portion of value at risk as a sort of deposit, which they will forfeit if it is proven that they have operated improperly.

2.2.1 Elements of the NEAR’s Platform

The NEAR platform is made up of many separate elements. Some of these are native to the platform itself while others are used in conjunction with or on top of it.
1. THE NEAR TOKEN
NEAR token is the fundamental native asset of the NEAR ecosystem and its functionality is enabled for all accounts. Each token is a unique digital asset similar to Ether, which can be used to:
a) Pay the system for processing transactions and storing data.
b) Run a validating node as part of the network by participating in the staking process.
c) Help determine how network resources are allocated and where its future technical direction will go by participating in governance processes.
The NEAR token enables the economic coordination of all participants who operate the network plus it enables new behaviors among the applications which are built on top of that network.
2. OTHER DIGITAL ASSETS
The platform is designed to easily store unique digital assets, which may include, but aren’t limited to:
  • Other Tokens: Tokens bridged from other chains (“wrapped”) or created atop the NEAR Platform can be easily stored and moved using the underlying platform. This allows many kinds of tokens to be used atop the platform to pay for goods and services. “Stablecoins,” specific kinds of token which are designed to match the price of another asset (like the US Dollar), are particularly useful for transacting on the network in this way.
  • Unique Digital Assets: Similar to tokens, digital assets (sometimes called “Non Fungible Tokens” (NFTs) ranging from in-game collectibles to representations of real-world asset ownership can be stored and moved using the platform.
3. THE NEAR PLATFORM
The core platform, which is made up of the cloud of community-operated nodes, is the most basic piece of infrastructure provided. Developers can permissionlessly deploy smart contracts to this cloud and users can permissionlessly use the applications they power. Applications, which could range from consumer-facing games to digital currencies, can store their state (data) securely on the platform. This is conceptually similar to the Ethereum platform.
Operations that require an account, network use, or storage at the top of the platform require payment to the platform in the form of transaction fees that the platform then distributes to its community from the authentication contract. These operations could include creating new accounts, publishing new contracts, implementing code by contract and storing or modifying data by contract.
As long as the rules of the protocol are followed, any independent developer can write software, which interfaces with it (for example, by submitting transactions, creating accounts or even running a new node client) without asking for anyone’s permission first.
4. THE NEAR DEVELOPMENT SUITE
Set of tools and reference implementations created to facilitate its use by those developers and end users who prefer them. These tools include:
  • NEAR SDKs: NEAR platform supports (Rust and AssemblyScript) languages to write smart contracts. To provide a great experience for developers, NEAR has a full SDK, which includes standard data structures, examples and testing tools for these two languages.
  • Gitpod for NEAR: NEAR uses existing technology Gitpod to create zero time onboarding experience for developers. Gitpod provides an online “Integrated Development Environment” (IDE), which NEAR customized to allow developers to easily write, test and deploy smart contracts from a web browser.
  • NEAR Wallet: A wallet is a basic place for developers and end users to store the assets they need to use the network. NEAR Wallet is a reference implementation that is intended to work seamlessly with the progressive security model that lets application developers design more effective user experiences. It will eventually include built-in functionality to easily enable participation by holders in staking and governance processes on the network.
  • NEAR Explorer: To aid with both debugging of contracts and the understanding of network performance, Explorer presents information from the blockchain in an easily digestible web-based format.
  • NEAR Command Line Tools: The NEAR team provides a set of straightforward command line tools to allow developers to easily create, test and deploy applications from their local environments.
All of these tools are being created in an open-source manner so they can be modified or deployed by anyone.

3. ECONOMIC

Primarily economic forces drive the ecosystem, which makes up the NEAR platform. This economy creates the incentives, which allow participants permissionlessly organize to drive the platform’s key functions while creating strong disincentives for undesirable, irresponsible or malicious behavior. In order for the platform to be effective, these incentives need to exist both in the short term and in the long term.
The NEAR platform is a market among participants interested in two aspects:
  • On the supply side, certification contract operators and other core infrastructure must be motivated to provide these services that make up the community cloud.
  • On the demand side, platform developers and end-users who pay for their use need to be able to do so in a simple, clear and consistent way that helps them.
Further, economic forces can also be applied to support the ecosystem as a whole. They can be used at a micro level to create new business models by directly compensating the developers who create its most useful applications. They can also be used at a macro level by coordinating the efforts of a broader set of ecosystem participants who participate in everything from education to governance.

3.1 NEAR ECONOMY DESIGN PRINCIPLES

NEAR’s overall system design principles are used to inform its economic design according to the following interpretations:
1. Usability: End users and developers should have predictable and consistent pricing for their usage of the network. Users should never lose data forever.
2. Scalability: The platform should scale at economically justified thresholds.
3. Simplicity: The design of each of the system’s components should be as simple as possible in order to achieve their primary purpose.
4. Sustainable Decentralization: The barrier for participation in the platform as a validating node should be set as low as possible in order to bring a wide range of participants. Over time, their participation should not drive wealth and control into the hands of a small number. Individual transactions made far in the future must be at least as secure as those made today in order to safeguard the value they modify.

3.2 ECONOMIC OVERVIEW

The NEAR economy is optimized to provide developers and end users with the easiest possible experience while still providing proper incentives for network security and ecosystem development.
Summary of the key ideas that drive the system:
  • Thresholded Proof of Stake: Validating node operators provide scarce and valuable compute resources to the network. In order to ensure that the computations they run are correct, they are required to “stake” NEAR tokens, which guarantee their results. If these results are found to be inaccurate, the staker loses their tokens. This is a fundamental mechanism for securing the network. The threshold for participating in the system is set algorithmically at the lowest level possible to allow for the broadest possible participation of validating nodes in a given “epoch” period (½ of a day).
  • Epoch Rewards: Node operators are paid for their service a fixed percentage of total supply as a “security” fee of roughly 4.5% annualized. This rate targets sufficient participation levels among stakers in order to secure the network while balancing with other usage of NEAR token in the ecosystem.
  • Protocol treasury: In addition to validators, protocol treasury received a 0.5% of total supply annually to continuously re-invest into ecosystem development.
  • Transaction Costs: Usage of the network consumes two separate kinds of resources — instantaneous and long term. Instantaneous costs are generated by every transaction because each transaction requires the usage of both the network itself and some of its computation resources. These are priced together as a mostly-predictable cost per transaction, which is paid in NEAR tokens.
  • Storage Costs: Storage is a long term cost because storing data represents an ongoing burden to the nodes of the network. Storage costs are covered by maintaining minimum balance of NEAR tokens on the account or contract. This provides indirect mechanism of payment via inflation to validators for maintaining contract and account state on their nodes.
  • Inflation: Inflation is determined as combination of payouts to validators and protocol treasury minus the collected transaction fees and few other NEAR burning mechanics (like name auction). Overall the maximum inflation is 5%, which can go down over time as network gets more usage and more transactions fees are burned. It’s possible that inflation becomes negative (total supply decreases) if there is enough fees burned.
  • Scaling Thresholds: In a network, which scales its capacity relative to the amount of usage it receives, the thresholds, which drive the network to bring on additional capacity are economic in nature.
  • Security Thresholds: Some thresholds, which provide for good behavior among participants are set using economic incentives. For example, “Fishermen” (described separately).
Full Report
submitted by CoinEx_Institution to Coinex [link] [comments]

Why Bitcoin Has a Volatile Value?

Price fluctuations in the bitcoin spot rate on cryptocurrency exchanges are driven by many factors. Volatility is measured in traditional markets by the Volatility Index, also known as the CBOE Volatility Index (VIX). More recently, a volatility index for bitcoin has also become available. Known as the Bitcoin Volatility Index, it aims to track the volatility of the world's leading digital currency by market cap over various periods of time.
Bitcoin's value has been historically quite volatile. In a three-month span from October of 2017 to January of 2018, for instance, the volatility of the price of bitcoin reached to nearly 8%. This is more than twice the volatility of bitcoin in the 30-day period ending January 15, 2020. But why is bitcoin so volatile? Here are just a few of the many factors behind bitcoin's volatility.

Bad News Hurts Adoption Rate

News events that scare bitcoin users include geopolitical events and statements by governments that bitcoin is likely to be regulated. Bitcoin's early adopters included several bad actors, producing headline news stories that produced fear in investors.
Headline-making bitcoin news over the decade or so of the cryptocurrency's existence includes the bankruptcy of Mt. Gox in early 2014 and, more recently, that of the South Korean exchange Yapian Youbit. Other news stories which shocked investors include the high-profile use of bitcoin in drug transactions via Silk Road that ended with the FBI shutdown of the marketplace in October 2013.
All these incidents and the public panic that ensued drove the value of bitcoins versus fiat currencies down rapidly. However, bitcoin-friendly investors viewed those events as evidence that the market was maturing, driving the value of bitcoins versus the dollar markedly back up in the short period immediately following the news events.

Bitcoin's Perceived Value Sways

One reason why bitcoin may fluctuate against fiat currencies is the perceived store of value versus the fiat currency. Bitcoin has properties that make it similar to gold. It is governed by a design decision by the developers of the core technology to limit its production to a fixed quantity of 21 million BTC.
Since that differs markedly from fiat currency, which is dynamically managed by governments who want to maintain low inflation, high employment, and satisfactory growth through investment in capital resources, as economies built with fiat currencies show signs of strength or weakness, investors may allocate more or less of their assets into bitcoin.

Uncertainty of Future Bitcoin's Value

Bitcoin volatility is also driven in large part by varying perceptions of the intrinsic value of the cryptocurrency as a store of value and method of value transfer. A store of value is the function by which an asset can be useful in the future with some predictability. A store of value can be saved and exchanged for some good or service in the future.
A method of value transfer is any object or concept used to transmit property in the form of assets from one party to another. Bitcoin’s volatility at the present makes it a somewhat unclear store of value, but it promises nearly frictionless value transfer. As a result, we see that bitcoin's value can swing based on news events much as we observe with fiat currencies.

Large Currency Holder Risks

Bitcoin volatility is also to an extent driven by holders of large proportions of the total outstanding float of the currency. For bitcoin investors with current holdings above around $10M, it is not clear how they would liquidate a position that large into a fiat position without severely moving the market. Indeed, it may not be clear how they would liquidate a position of that size in a short period of time at all, as most cryptocurrency exchanges impose 24-hour withdrawal limits far below that threshold.
Bitcoin has not reached the mass market adoption rates that would be necessary to provide option value to large holders of the currency.

Security Breaches Cause Volatility

Bitcoin can also become volatile when the bitcoin community exposes security vulnerabilities in an effort to produce massive open source responses in the form of security fixes. This approach to security is paradoxically one that produces great outcomes, with many valuable open source software initiatives to its credit, including Linux. Bitcoin developers must reveal security concerns to the public in order to produce robust solutions.
It was a hack that drove the Yapian Youbit to bankruptcy, while many other cryptocurrencies have also made headlines for being hacked or having stashes of cryptocurrencies stolen. As an early example, in April 2014, the OpenSSL vulnerabilities attacked by the Heartbleed bug and reported by Google security's, Neel Mehta, drove Bitcoin prices down by 10% in a month.
Bitcoin and open source software development are built upon the same fundamental premise that a copy of the source code is available to users to examine. This concept makes it the responsibility of the community to voice concerns about the software design, just as it is the responsibility of the community to come to consensus about modifications to that underlying source code as well. Because of the open conversation and debate regarding the Bitcoin network, security breaches tend to be highly publicized.

High-Profile Losses Raise Fear

It is worth noting that the aforementioned thefts and the ensuing news about the losses had a double effect on volatility. They reduced the overall float of bitcoin, producing a potential lift on the value of the remaining bitcoin due to increased scarcity. However, overriding this lift was the negative effect of the news cycle that followed.
Notably, other bitcoin gateways looked to the massive failure at Mt. Gox as a positive for the long term prospects of bitcoin, further complicating the already complex story behind the currency’s volatility. As early adopting firms were eliminated from the market due to poor management and dysfunctional processes, later entrants learn from their errors and build stronger processes into their own operations, strengthening the infrastructure of the cryptocurrency overall.

High-Inflation Nations and Bitcoins

Bitcoin’s use case as a currency for developing countries that are currently experiencing high inflation is valuable when considering the volatility of bitcoin in these economies versus the volatility of bitcoin in USD. Bitcoin is much more volatile versus USD than the high-inflation Argentine peso versus the USD.
That being said, the near frictionless transfer of bitcoins across borders makes it a potentially highly attractive borrowing instrument for Argentineans, as the high inflation rate for peso-denominated loans potentially justifies taking on some intermediate currency volatility risk in a bitcoin-denominated loan funded outside Argentina.
Similarly, funders outside Argentina can earn a higher return under this scheme than they can by using other debt instruments, denominated in their home currency, potentially offsetting some of the risks of exposure to the high inflation Argentine market.

Tax Treatment Lifts Volatility

According to the Internal Revenue Service (IRS), bitcoin is actually considered an asset for tax purposes. This has had a mixed impact on bitcoin's volatility. On the upside, any statement recognizing the currency has a positive effect on the market valuation of the currency.
Conversely, the decision by the IRS to call it property had at least two negative effects. The first was the added complexity for users who want to use it as a form of payment. Under the new tax law, users would have to record the market value of the currency at the time of every transaction, no matter how small. This need for record keeping can understandably slow adoption as it seems to be too much trouble for what it is worth for many users.
Secondly, the decision to call the currency a form of property for tax purposes may be a signal to some market participants that the IRS is preparing to enforce stronger regulations later. Very strong regulation of the currency could cause the adoption rate of the currency to slow to the point where it is not able to achieve the mass adoption that is critical for its overall utility in society. Recent moves by the IRS are not clear as to their signaling motives and therefore have mixed signals to the market for bitcoin.
submitted by FormerSuggestion8 to Bitcoin [link] [comments]

SCAM WARNING

Hi there! This may seem like an obvious hint to others, but to me I was new and didn’t get it, so I would like to share what happened and how I got SCAMMED for about $600 through bitcoin on cash app.
I missed a lot of red flag warnings, so without judgement, I was new to this and didn’t really understand it.
I got a message on instagram from a guy claiming to send me money through bitcoin on instagram but that I had to pay a small “fee” for it it go through. FIRST WARNING SIGN. You should never have to pay a “fee.”
I didn’t know anything about bitcoin, and should have done more research first because what I didn’t know was that bitcoin currency fluctuates so frequently, your USD money value can go down in seconds. So I got this “email” meaning, the intial “fee” i sent was under the amount and I had to “resend” it. AGAIN WARNING FLAG. Can’t believe how dumb I was, I know.
Second thing, this guy said he worked for or knew people from a legit website called Iconex, and if you don’t know what that company is; it’s an online currency website that does bitcoin.
So i was getting these emails from “iconex” about the payments, and seriously, this guy seemed REALLY REALLY concerned and says that normally doesn’t happen and was reassuring me all day. 🙄 and I fell for it.
Also the previous day, I had just found these people to promote my instagram so I was like, cool this is real! I was really trusting and unfortunately was scammed by someone who clearly knew what they were doing.
Anyways, the payments just got higher but the money promised got higher. WARNING SIGN: scammers always up their money and that’s a key thing they do to get you to pay more for what they are promising. Again, this guy seemed SO CONCERNED like it really felt real because if it was a scam he would have already taken the money and ran, right?
Everytime we communicated and something went wrong he would “call them” and figure it out and I would get an email, which I realized was probably a really obvious fake email address from “iconex” and I very naïvely like went along with it and trusted this person??????? Truly embarrassing.
Eventually when this guy requested $300 more dollars I was veryy skeptical and had been crying because I got suspicious and scared. I ended up looking up his email and bitcoin code and found out he was a reported scammer on a bitcoin website, and that 2 other people had reported him in the last WEEK.
This was in a span of 24 hours, like I said, I just want to warn people to be more careful than I was. And that you NEVER PAY PEOPLE just blindly for what they are promising, trust your intuition, and learn from my mistake. Lol.
Not sure if anyone will find this useful or just make fun of me, I was in shock and basically laugh about how ignorant I was about bitcoin and how you literally can never ever get your money back once you willingly send money through your own account on cashapp, especially when you personally BUY the bitcoin. Lol my bad. ;(
I hope you all have a great day and DON’T GET SCAMMED.
submitted by Capricious-shy to CashApp [link] [comments]

Potential huge hint (Reason(s) behind Covid-19)

Morning everyone
So I was surfing GLP and I came across this thread from back in April 2020 so it's recent.
Guy claimed to be an "insider" of sorts left some potentially valuable information before the trolls and low iqs with attention span of a fly flooded his thread with bs flags and name calling.
He was addressing the purpose behind bullshit19 and said there are 3 outcomes for it I quote:
"OUTCOME 1:
The first is most likely, as most of the council seems to agree to it, and that is a phase-out of the pandemic by Summer. The stock market will reach 35,000 by election day in the U.S. and Bitcoin will reach $50,000.
No new currency is introduced and the US Dollar retains supremacy.
It will be an economic restoration unlike any seen in human history.
New vaccines are introduced, which will be yearly and target COVID-19 (which is fictional, of course). They will be mandatory.
We have been working on this particular vaccine, to be used for Outcome 1, for a very long time. Outcome 1's primary purpose is to introduce the vaccine in a way that it is accepted and welcomed by the world, and to allow us to grow richer.
I will not disclose the long-term purpose of the vaccine, at this time, or its effects.
OUTCOME 2:
We allow the pandemic to persist into late 2020, and a monetary reset occurs.
We have not decided if Trump will be reelected or not, in this scenario. Hillary Clinton may be placed in power, one of our most dedicated servants, who is due a great reward. (She is greatly in favor of this outcome, but has no voting power on our council.)
We will redistribute 22.7% of our wealth to 4.6 Billion people, through the issuance of a new worldwide currency. Each name and individual has already been chosen, though children under 18 will not receive these accounts.
We will also cancel all consumer debt worldwide, ban cryptocurrencies, and the ownership of gold, silver and other materials of value.
Not only will living standards rise, Americans in particular will enjoy new-found wealth.
As we control all market mechanisms, inflation and other issues will not be a concern. "A rising tide lifts all boats."
But there will be a cost to personal freedom and liberty, and that is an implantable microchip that must be accepted, if one is to receive the benefits of the new currency.
Those who do not consent to the microchip, will have to operate in a black market, in which we will employ authorities to aggressively monitor, target and imprison many who do not consent.
This will lead to a divided world, of haves and have-nots. Poverty and the 3rd world is eliminated, but the black market grows. Those who accept the chip will have no favor of those who do not, and we will see programs which encourage reporting, "snitching" and so on. You are already seeing this tested right now.
This outcome is favored by a few individuals on our council who have extra voting power. These individuals outrank me.
OUTCOME 3:
The pandemic ceases in late Summer, but at great economic cost. There is no recovery, and the world lurches through a severe depression. The Dow drops to 5,000, and Bitcoin reaches $180 USD and is rendered a "dead" technology.
Normality returns, to a degree, but there are shortages, by design, new restrictions, and severe economic struggles for the middle class.
During this time, a number of new laws are passed, designed to limit freedom. This occurs in governments around the world. The excuse for these laws is to stop any pandemic from happening again, new campaigns are released using slogans like, "Never Again" and "We Must Unite" and so on.
Through these campaigns, we gain consent to remove virtually all freedoms.
By late Winter, into 2021, a new pandemic is released, it is more severe than the last. It is a real bioweapon we have prepared, and leads to a substantial loss of life. It reduces the world's population by 1.9 Billion people in less than six months. The future is grim, and somewhat chaotic, and during this time, we use the pandemic to further tighten controls. Power outages, brownouts and Internet shortages become the "norm" (as you can see, we are already testing part of this scenario right now). Food is rationed.
Outcome 3, in particular, is favored by those on our council frustrated by the Internet and free speech.
(… if you were wondering, I favor Outcome 1 and I will vote for it and advocate for it.)"
So as of today if this info is correct it seems they're still testing the scenarios and didn't decide on one yet. Personally I think OUTCOME 1 will fail miserably as there's no way they're gonna convince the whole world to get vaccinated. Bill gates' sinister intentions that he can't hide on camera have become almost mainstream. Even people who aren't into conspiracies will not take a vax from a tech guy.
Though with the late talks of vaccines through Trump, Gates and the media, it may be possible that they may go for it or at least test the grounds to see what sort of reaction people will generate. If they do though I expect the sheep will be our true obstacle. People will enforce it on people to ride the wave. Just like with masks. I hope I'm wrong.
Outcome 2 I think will probably have a higher chance to succeed but there are many religious people who consider the microchip to be "the mark of the beast" and spread that info to each other to resist it. BUT take a look at this. "The Great Reset" posted by the World Economic Forum to evolve our economic model by early 2021." Either mass resistance or mass consideration between religious beliefs and dying from hunger.
Looking at Outcome 3 I say is the most likely to occur because the amount of censorship on the internet and the media is unprecedented.
He did say one thing that I agree with which was this whole shitshow is a simulation. Most of us found this info back in March and maybe even February. Event 201.
Also an overwhelming body of evidence emerged over time that the official narrative of bs19 was total well bs. You can find most of it here.
So there's simply no way in hell that it was accidental or done with no discernible purpose. It's a game.
Dude could be a larp but we shouldn't dismiss anything. Our consent is one of the things they strive for even subconsciously. That's the purpose behind predictive programming and "communications with the peasants through conspiracy theory forums". Let's be real he got called out from like 80% of people who engaged on his thread on fucking glp which is the natural habitat for loonies. What would you think would happen if he said that shit on facebook groups or bodybuilding forums.
We'll verify this info with time.
submitted by TranquilloByTheKilo to conspiracy [link] [comments]

AlienCoin-- A useful thought experiment

A thought experiment:
We come into contact with Aliens. The aliens are far wealthier than humans and have a far larger trading network spanning multiple galaxies.
As a currency, the aliens use a proof of work coin that is one million years older than Bitcoin and has a hash rate that is one quadrillion times stronger than Bitcoin’s. Their network is more decentralized (more wallets in more alien hands) and has far more independently validating full-nodes.
Because of Aliencoin's longer life and the aliens’ greater prosperity, there is more value stored in Aliencoin than is stored in Bitcoin.
Also because of their prosperity and superior trade network, when we make peaceful contact with them, the aliens realize that they only want to trade with us for some natural resources on our planet (which are scarce elsewhere in the universe). They aren’t interested in buying our comparatively backward technology.
In such a situation, what would happen to the Aliencoin and Bitcoin trade networks?
If you believe that Aliencoin would win out in the end, what features (hash rate, decentralization, history, total wealth stored, total nodes) of Aliencoin would be the deciding factor? As in would Aliencoin still win with less wealth stored, but an older currency?
submitted by ReedWommack to BitcoinDiscussion [link] [comments]

AlienCoin --a useful thought experiment...

A thought experiment:
We come into contact with Aliens. The aliens are far wealthier than humans and have a far larger trading network spanning multiple galaxies.
As a currency, the aliens use a proof of work coin that is one million years older than Bitcoin and has a hash rate that is one quadrillion times stronger than Bitcoin’s. Their network is more decentralized (more wallets in more alien hands) and has far more independently validating full-nodes.
Because of Aliencoin's longer life and the aliens’ greater prosperity, there is more value stored in Aliencoin than is stored in Bitcoin.
Also because of their prosperity and superior trade network, when we make peaceful contact with them, the aliens realize that they only want to trade with us for some natural resources on our planet (which are scarce elsewhere in the universe). They aren’t interested in buying our comparatively backward technology.
In such a situation, what would happen to the Aliencoin and Bitcoin trade networks? How would the game theory play out?
submitted by ReedWommack to Bitcoin [link] [comments]

The Global Spreadsheet, Information Theory, and Law - Dr. Craig S. Wright & Ryan X. Charles

Episode #12 of Theory of Bitcoin (https://www.youtube.com/channel/UC2qsCjXNXfiQfKYox339lZg)
https://powping.com/posts/c982f51134cb23251616cc8fac0c8c7d570748005b81b38d90981c2e05ebb807
In today's interview, we covered essentially three things:
Bitcoin is a global, distributed spreadsheet. Bitcoin is a ledger into which everyone has a window. Two people can have a different window, and can have some entries that overlap. Script is more like the language that we use to update cells in the spreadsheet than it is like a "smart contract."
Information theory can be used to conceptualize every field of study. In order to prove my thesis, that Bitcoin is the only solution to digital cash up to arbitrary changes in parameters, I first need to write down a clear definition of this that spans 16+ different disciplines. I am pursuing the path of using information theory as the underlying theory. In this video I motivate this direction and show an interesting result with the derivation of the Schrodinger equation from information theory.
Questions about law from Craig's in-progress legal thesis. Bitcoin is property and this is why it is important that it is a token and not a floating point value. The cryptocurrency industry is almost certainly being investigated and we will see a giant, international shutdown when the investigation reaches that stage. Stay away from anything illegal or scammy or you risk getting caught up in the sweep.
submitted by mushroom87 to bitcoinsv [link] [comments]

What is yield farming in decentralized finance?

This is a pretty long but simple to understand post about the developments in the crypto space. It is meant for beginners to help them join the dots and see the larger picture of what cryptocurrency is about and its ongoing developments
What is Decentralized Finance?
Before we go into yield farming, let me first explain decentralized finance (defi) simply. Defi is considered by many to be a financial revolution that is true to the ethos of Bitcoin, which is to create a monetary system that allows the transfer of value peer to peer yet is not controlled or governed by a country or central bank.
While Bitcoin has been a great store of value as digital gold due to its decentralized nature, there is no team behind Bitcoin therefore there has been no further development in the technology. Hence the creation of Ethereum as a centralized platform that facilitates the growth of blockchain technology and projects that ultimately aims to fulfil the mission of defi.
Yield Farming
Yield farming is basically lending out your cryptocurrency onto defi lending platforms, providing liquidity for loans and being paid interest for it. Most bitcoin holders do this to squeeze extra interest out of their holdings rather than just letting their crypto sit in their wallets. On top of that, most banks today are paying only 0.1% interest for your deposits, whereas Compound is paying 2+% on USDC and USDT. While there are some additional risks introduced with defi lending, some people are comfortable with the added risks and returns.
Compound and Uniswap are the 2 largest defi lending platforms right now with the most Total Value Locked (TVL) contributing to more than 60% of the $2 billion locked in defi. What is interesting is the sudden explosion of TVL in defi contracts. TVL has doubled from $1 billion to $2 billion in less than a month, and this was largely due to Compound's huge growth in TVL from $100 million to over $600 million in a span of 1 week, 15 to 22 June. Within the week, Compound became the leader in the defi lending space.
This phenomenon was largely due to the fact that Compound is giving away its COMP tokens to its users, both depositors and borrowers, proportionally according to the amount that they have deposited or loaned. Which has never been done before, the fact that borrowers are receiving tokens for borrowing. This has led to many people borrowing their own deposits and repeating the cycle a few times to maximize the share of their COMP tokens received every day.
Brilliant and sustainable development or hype?
The key question we need to ask ourselves is if this large spike in TVL is brilliant tokenomics that has unveiled interest in defi and led to actual growth within the space, or is this a fad that will start to die off once the price of COMP tokens start falling?
My personal belief is that it is the former. This is because there has been much progress in terms of innovation within the defi space and the development of Ethereum 2.0. On top of that, new investors are buying into cryptocurrency every day. Institutional investors such as Paul Tudor Jones have about 2% of his assets in Bitcoin. His reasons for buying was that while bitcoin is extremely speculative, and ranks poorly as a store of value, having been around for 11 years only, its market price of $186 billion is a tiny fraction of the $266,917 billion stock and bonds market, which makes it an underpriced asset and a value investment.
Of course, I have a biased point of view that is pro-bitcoin and pro-defi, however, I believe that defi is the next development in the financial market that is in its early stages, and presents a huge step forward and opportunities for investors and people who are looking to grow their wealth.
submitted by applejeece to Switcheo [link] [comments]

☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Help Desk Toll Free Number

☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Help Desk Toll Free Number
☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Help Desk Toll Free Number
Coinbase is a privately owned digital asset exchange and also provides a digital holding service. Coinbase is a cryptocurrency exchange platform that allows you to buy Bitcoin (BTC) and Ether (ETH) in US dollars and trade between BTC and ETH. It is a robust tool for more advanced operators, but has a clean and easy-to-use interface that even novice users can quickly learn.
Since then, bitcoin reserves have skyrocketed and the value of digital currencies has increased by thousands of percent. In fact, the twins are said to have become the first "Bitcoin billionaire" in December 2017, when Bitcoin broke through $ 11,000.
Coinbase competes directly with other major cryptocurrency exchanges such as Kraken and Coinbase, allowing users to buy, sell, store, trade and exchange major cryptocurrencies such as Bitcoin and Ether. The Latin word "Coinbase" means twin and indicates duality. The Coinbase platform is conceptualized to integrate money in the form of a new era cryptocurrency and an old existing fiat currency, and is expected to be used interchangeably in the future with the increasing adoption of virtual currencies.
What collections Coinbase apart from other exchanges is the receipt of rules and agreement. This is the primary exchange in the United States. Get an authorized license to trade American Ether and Bitcoin. It is an exchange that workings with genuinemonetaryorganizations, and its legalityproposals certain benefits over other platforms.
Coinbase is under the supervision of the New York State Financial Services Authority (NYSDFS) and treats him as a trust company. That means you can handle not only average crypto traders like you or me, but also the following institutional investors: Great span. The platform was constructed with a very clean, contemporary and efficient design that reproduces Wall Street's outstanding weapon brand.
Many traders respond not only to the attractive exchange image, but also to the price. Commissions (per transaction sender and recipient) vary from 0.00% to 0.25%, depending on the volume of the 30-day transaction. If you are just starting to invest in bitcoin or ether, you pay at the high end of the price range, but 0.25% is not a bad price compared to other available exchanges. Coinbase support number also help you in registration process and a user-friendly business interface that newbie’s can master.
If you face any issue in use of this platform you can call at support number, where you can get complete help related to your problems.
Coinbase platform is properly designed and easy to use. The boundaryremainderscomparatively simple, providing a plane and effectiveemployer experience. Key price, order, and balance data is updated instantly, making the platform extremely responsive and keeping users informed about transactions.
Safety: Coinbase endures to completely obey with all digital asset rules and customerdefence laws, and thus functions with a high level of safety and knowledge. US dollar accounts are guaranteed by the FDIC with funds from a bank established in New York. All digital assets are cold-stored while Amazon Web Services hosts assets online. Amazon Web Services also uses some additional security measures.
Client Support: Coinbase proposals a comprehensive FAQ that asks for answers to the mutual questions, and a blog that gives consumers how to purchase and sell Bitcoin. User-specific investigations are treated via email, and Coinbase aims to answer client questions rapidly.
International: Exchanges are currently available in about 45 US states like USA Canada, Hong Kong, Puerto Rico, Singapore, Korea, and UK.
One of the utmostsignificantbenefits of Coinbase is that, like regular banks, both are guaranteed by the FDIC. This is a very important point since many crypto exchanges do not have FDIC insurance. Coinbase offers up to $ 250,000 FDIC Legal Book Insurance per account.
Coinbase places ninety eight of its cryptocurrency possessions in cold storage to enhancesafety and defend it from online hackers. The remaining two percent of cryptocurrency assets kept online are also enclosed by inclusive insurance agreements.
Coinbase also offers FDIC and digital asset insurance on baggage cash. In addition, Coinbase relies heavily on cold storage to protect most crypto assets. This means capitalizing more money on the coin base and Coinbase exchanges is much safer than capitalizing more on other accounts.
Extensive security measures implemented by Coinbase and Coinbase help maintain a high reputation for security. Even if these exchanges are hacked, if the user is stolen, most of the inventory will be refunded. This creates great confidence in these exchanges. That's what you need for a good cryptocurrency exchange.
Both Coinbase and Coinbase offer excellent clientfacility and have excessivepublic trust. Both features are vital for a successful cryptocurrency exchange. Coinbase and Coinbase are also two of the largest exchanges in the world and will help build a high quality reputation in the crypto exchange industry. Coinbase is the major cryptocurrency exchange in the United States. And it has a trading volume of over $ 20 billion.
submitted by semit_charu31 to u/semit_charu31 [link] [comments]

☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Pro Customer Helpline Number

☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Pro Customer Helpline Number
☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Pro Customer Helpline Number
Coinbase is a privately owned digital asset exchange and also provides a digital holding service. Coinbase is a cryptocurrency exchange platform that allows you to buy Bitcoin (BTC) and Ether (ETH) in US dollars and trade between BTC and ETH. It is a robust tool for more advanced operators, but has a clean and easy-to-use interface that even novice users can quickly learn.
Since then, bitcoin reserves have skyrocketed and the value of digital currencies has increased by thousands of percent. In fact, the twins are said to have become the first "Bitcoin billionaire" in December 2017, when Bitcoin broke through $ 11,000.
Coinbase competes directly with other major cryptocurrency exchanges such as Kraken and Coinbase, allowing users to buy, sell, store, trade and exchange major cryptocurrencies such as Bitcoin and Ether. The Latin word "Coinbase" means twin and indicates duality. The Coinbase platform is conceptualized to integrate money in the form of a new era cryptocurrency and an old existing fiat currency, and is expected to be used interchangeably in the future with the increasing adoption of virtual currencies.
What collections Coinbase apart from other exchanges is the receipt of rules and agreement. This is the primary exchange in the United States. Get an authorized license to trade American Ether and Bitcoin. It is an exchange that workings with genuinemonetaryorganizations, and its legalityproposals certain benefits over other platforms.
Coinbase is under the supervision of the New York State Financial Services Authority (NYSDFS) and treats him as a trust company. That means you can handle not only average crypto traders like you or me, but also the following institutional investors: Great span. The platform was constructed with a very clean, contemporary and efficient design that reproduces Wall Street's outstanding weapon brand.
Many traders respond not only to the attractive exchange image, but also to the price. Commissions (per transaction sender and recipient) vary from 0.00% to 0.25%, depending on the volume of the 30-day transaction. If you are just starting to invest in bitcoin or ether, you pay at the high end of the price range, but 0.25% is not a bad price compared to other available exchanges. Coinbase support number also help you in registration process and a user-friendly business interface that newbie’s can master.
If you face any issue in use of this platform you can call at support number, where you can get complete help related to your problems.
Coinbase platform is properly designed and easy to use. The boundaryremainderscomparatively simple, providing a plane and effectiveemployer experience. Key price, order, and balance data is updated instantly, making the platform extremely responsive and keeping users informed about transactions.
Safety: Coinbase endures to completely obey with all digital asset rules and customerdefence laws, and thus functions with a high level of safety and knowledge. US dollar accounts are guaranteed by the FDIC with funds from a bank established in New York. All digital assets are cold-stored while Amazon Web Services hosts assets online. Amazon Web Services also uses some additional security measures.
Client Support: Coinbase proposals a comprehensive FAQ that asks for answers to the mutual questions, and a blog that gives consumers how to purchase and sell Bitcoin. User-specific investigations are treated via email, and Coinbase aims to answer client questions rapidly.
International: Exchanges are currently available in about 45 US states like USA Canada, Hong Kong, Puerto Rico, Singapore, Korea, and UK.
One of the utmostsignificantbenefits of Coinbase is that, like regular banks, both are guaranteed by the FDIC. This is a very important point since many crypto exchanges do not have FDIC insurance. Coinbase offers up to $ 250,000 FDIC Legal Book Insurance per account.
Coinbase places ninety eight of its cryptocurrency possessions in cold storage to enhancesafety and defend it from online hackers. The remaining two percent of cryptocurrency assets kept online are also enclosed by inclusive insurance agreements.
Coinbase also offers FDIC and digital asset insurance on baggage cash. In addition, Coinbase relies heavily on cold storage to protect most crypto assets. This means capitalizing more money on the coin base and Coinbase exchanges is much safer than capitalizing more on other accounts.
Extensive security measures implemented by Coinbase and Coinbase help maintain a high reputation for security. Even if these exchanges are hacked, if the user is stolen, most of the inventory will be refunded. This creates great confidence in these exchanges. That's what you need for a good cryptocurrency exchange.
Both Coinbase and Coinbase offer excellent clientfacility and have excessivepublic trust. Both features are vital for a successful cryptocurrency exchange. Coinbase and Coinbase are also two of the largest exchanges in the world and will help build a high quality reputation in the crypto exchange industry. Coinbase is the major cryptocurrency exchange in the United States. And it has a trading volume of over $ 20 billion.
submitted by semit_charu31 to u/semit_charu31 [link] [comments]

☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Support Helpline Number

☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Support Helpline Number
☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Support Helpline Number
Coinbase is a privately owned digital asset exchange and also provides a digital holding service. Coinbase is a cryptocurrency exchange platform that allows you to buy Bitcoin (BTC) and Ether (ETH) in US dollars and trade between BTC and ETH. It is a robust tool for more advanced operators, but has a clean and easy-to-use interface that even novice users can quickly learn.
Since then, bitcoin reserves have skyrocketed and the value of digital currencies has increased by thousands of percent. In fact, the twins are said to have become the first "Bitcoin billionaire" in December 2017, when Bitcoin broke through $ 11,000.
Coinbase competes directly with other major cryptocurrency exchanges such as Kraken and Coinbase, allowing users to buy, sell, store, trade and exchange major cryptocurrencies such as Bitcoin and Ether. The Latin word "Coinbase" means twin and indicates duality. The Coinbase platform is conceptualized to integrate money in the form of a new era cryptocurrency and an old existing fiat currency, and is expected to be used interchangeably in the future with the increasing adoption of virtual currencies.
What collections Coinbase apart from other exchanges is the receipt of rules and agreement. This is the primary exchange in the United States. Get an authorized license to trade American Ether and Bitcoin. It is an exchange that workings with genuinemonetaryorganizations, and its legalityproposals certain benefits over other platforms.
Coinbase is under the supervision of the New York State Financial Services Authority (NYSDFS) and treats him as a trust company. That means you can handle not only average crypto traders like you or me, but also the following institutional investors: Great span. The platform was constructed with a very clean, contemporary and efficient design that reproduces Wall Street's outstanding weapon brand.
Many traders respond not only to the attractive exchange image, but also to the price. Commissions (per transaction sender and recipient) vary from 0.00% to 0.25%, depending on the volume of the 30-day transaction. If you are just starting to invest in bitcoin or ether, you pay at the high end of the price range, but 0.25% is not a bad price compared to other available exchanges. Coinbase support number also help you in registration process and a user-friendly business interface that newbie’s can master.
If you face any issue in use of this platform you can call at support number, where you can get complete help related to your problems.
Coinbase platform is properly designed and easy to use. The boundaryremainderscomparatively simple, providing a plane and effectiveemployer experience. Key price, order, and balance data is updated instantly, making the platform extremely responsive and keeping users informed about transactions.
Safety: Coinbase endures to completely obey with all digital asset rules and customerdefence laws, and thus functions with a high level of safety and knowledge. US dollar accounts are guaranteed by the FDIC with funds from a bank established in New York. All digital assets are cold-stored while Amazon Web Services hosts assets online. Amazon Web Services also uses some additional security measures.
Client Support: Coinbase proposals a comprehensive FAQ that asks for answers to the mutual questions, and a blog that gives consumers how to purchase and sell Bitcoin. User-specific investigations are treated via email, and Coinbase aims to answer client questions rapidly.
International: Exchanges are currently available in about 45 US states like USA Canada, Hong Kong, Puerto Rico, Singapore, Korea, and UK.
One of the utmostsignificantbenefits of Coinbase is that, like regular banks, both are guaranteed by the FDIC. This is a very important point since many crypto exchanges do not have FDIC insurance. Coinbase offers up to $ 250,000 FDIC Legal Book Insurance per account.
Coinbase places ninety eight of its cryptocurrency possessions in cold storage to enhancesafety and defend it from online hackers. The remaining two percent of cryptocurrency assets kept online are also enclosed by inclusive insurance agreements.
Coinbase also offers FDIC and digital asset insurance on baggage cash. In addition, Coinbase relies heavily on cold storage to protect most crypto assets. This means capitalizing more money on the coin base and Coinbase exchanges is much safer than capitalizing more on other accounts.
Extensive security measures implemented by Coinbase and Coinbase help maintain a high reputation for security. Even if these exchanges are hacked, if the user is stolen, most of the inventory will be refunded. This creates great confidence in these exchanges. That's what you need for a good cryptocurrency exchange.
Both Coinbase and Coinbase offer excellent clientfacility and have excessivepublic trust. Both features are vital for a successful cryptocurrency exchange. Coinbase and Coinbase are also two of the largest exchanges in the world and will help build a high quality reputation in the crypto exchange industry. Coinbase is the major cryptocurrency exchange in the United States. And it has a trading volume of over $ 20 billion.
submitted by semit_charu31 to u/semit_charu31 [link] [comments]

☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Pro Help Desk Toll Free Number

☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Pro Help Desk Toll Free Number
☎️𝟭,𝟴𝟰𝟰-𝟵𝟬𝟯+𝟮𝟵𝟰𝟱♗ [email protected]#@#@||Coinbase Pro Help Desk Toll Free Number
Coinbase is a privately owned digital asset exchange and also provides a digital holding service. Coinbase is a cryptocurrency exchange platform that allows you to buy Bitcoin (BTC) and Ether (ETH) in US dollars and trade between BTC and ETH. It is a robust tool for more advanced operators, but has a clean and easy-to-use interface that even novice users can quickly learn.
Since then, bitcoin reserves have skyrocketed and the value of digital currencies has increased by thousands of percent. In fact, the twins are said to have become the first "Bitcoin billionaire" in December 2017, when Bitcoin broke through $ 11,000.
Coinbase competes directly with other major cryptocurrency exchanges such as Kraken and Coinbase, allowing users to buy, sell, store, trade and exchange major cryptocurrencies such as Bitcoin and Ether. The Latin word "Coinbase" means twin and indicates duality. The Coinbase platform is conceptualized to integrate money in the form of a new era cryptocurrency and an old existing fiat currency, and is expected to be used interchangeably in the future with the increasing adoption of virtual currencies.
What collections Coinbase apart from other exchanges is the receipt of rules and agreement. This is the primary exchange in the United States. Get an authorized license to trade American Ether and Bitcoin. It is an exchange that workings with genuinemonetaryorganizations, and its legalityproposals certain benefits over other platforms.
Coinbase is under the supervision of the New York State Financial Services Authority (NYSDFS) and treats him as a trust company. That means you can handle not only average crypto traders like you or me, but also the following institutional investors: Great span. The platform was constructed with a very clean, contemporary and efficient design that reproduces Wall Street's outstanding weapon brand.
Many traders respond not only to the attractive exchange image, but also to the price. Commissions (per transaction sender and recipient) vary from 0.00% to 0.25%, depending on the volume of the 30-day transaction. If you are just starting to invest in bitcoin or ether, you pay at the high end of the price range, but 0.25% is not a bad price compared to other available exchanges. Coinbase support number also help you in registration process and a user-friendly business interface that newbie’s can master.
If you face any issue in use of this platform you can call at support number, where you can get complete help related to your problems.
Coinbase platform is properly designed and easy to use. The boundaryremainderscomparatively simple, providing a plane and effectiveemployer experience. Key price, order, and balance data is updated instantly, making the platform extremely responsive and keeping users informed about transactions.
Safety: Coinbase endures to completely obey with all digital asset rules and customerdefence laws, and thus functions with a high level of safety and knowledge. US dollar accounts are guaranteed by the FDIC with funds from a bank established in New York. All digital assets are cold-stored while Amazon Web Services hosts assets online. Amazon Web Services also uses some additional security measures.
Client Support: Coinbase proposals a comprehensive FAQ that asks for answers to the mutual questions, and a blog that gives consumers how to purchase and sell Bitcoin. User-specific investigations are treated via email, and Coinbase aims to answer client questions rapidly.
International: Exchanges are currently available in about 45 US states like USA Canada, Hong Kong, Puerto Rico, Singapore, Korea, and UK.
One of the utmostsignificantbenefits of Coinbase is that, like regular banks, both are guaranteed by the FDIC. This is a very important point since many crypto exchanges do not have FDIC insurance. Coinbase offers up to $ 250,000 FDIC Legal Book Insurance per account.
Coinbase places ninety eight of its cryptocurrency possessions in cold storage to enhancesafety and defend it from online hackers. The remaining two percent of cryptocurrency assets kept online are also enclosed by inclusive insurance agreements.
Coinbase also offers FDIC and digital asset insurance on baggage cash. In addition, Coinbase relies heavily on cold storage to protect most crypto assets. This means capitalizing more money on the coin base and Coinbase exchanges is much safer than capitalizing more on other accounts.
Extensive security measures implemented by Coinbase and Coinbase help maintain a high reputation for security. Even if these exchanges are hacked, if the user is stolen, most of the inventory will be refunded. This creates great confidence in these exchanges. That's what you need for a good cryptocurrency exchange.
Both Coinbase and Coinbase offer excellent clientfacility and have excessivepublic trust. Both features are vital for a successful cryptocurrency exchange. Coinbase and Coinbase are also two of the largest exchanges in the world and will help build a high quality reputation in the crypto exchange industry. Coinbase is the major cryptocurrency exchange in the United States. And it has a trading volume of over $ 20 billion.
submitted by semit_charu31 to u/semit_charu31 [link] [comments]

Digital Currency Has Real Value — Here’s Why  CNBC Bitcoin’s Value Proposition 2020  EASILY EXPLAINED  BEGINNER FRIENDLY  Bitcoin Expert Dan Held BREAKING: MAINSTREAM MEDIA PUMPING BITCOIN [Stephen Colbert, CNBC, C-SPAN] Bitcoin featured on CSpan! Value of Bitcoin - YouTube

Acceda de forma instantánea y gratuita al gráfico en tiempo real de Bitcoin Real-Time y obtenga información gratuita sobre la cotización del índice. Bitcoin USD price, real-time (live) charts, bitcoin news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more. Senatorial droning on C-SPAN doesn’t always move markets. But when it does, it really does. The value of bitcoin tripled within the month to $900, and venture capital got its green light. Brian Knight discussed the value of Bitcoin and why the value of Bitcoin has risen recently. He also talked about the argument that the Bitcoin market is a bubble. Description. Brian Knight discussed the value of Bitcoin and why the value of Bitcoin has risen recently. He also talked about the argument that the Bitcoin market is a bubble.

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Digital Currency Has Real Value — Here’s Why CNBC

C-Span Digital Currency Bitcoin Congress Live 18/11/13 We accept no rights to this recording. This is for public knowledge solely. Bitcoin Expert Dan Held Explains Bitcoin's Value Proposition In 2020. Perfect Video To Share On Social Media. 👍 Watch The Full Interview Here https://www.you... At least for some, bitcoin is seen to have both scarcity and utility. That makes it valuable. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: Fr... Watch Bitcoin Mentioned on Stephen Colbert's LATE NIGHT, CNBC, and C-SPAN. Like. Comment. Subscribe. Follow us on Twitter (WATCH FULL STEPHEN CLIP): https://... Enabling a dialogue about Bitcoin The VoB is a dialogue event that brings together skeptics, advocates, entrepreneurs and inquisitive decision makers. It is ...

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