Price Converter Tools Bitcoin.com

r/sportsbook: sports betting "discussion"

sports betting "discussion"
[link]

QuarkCoin Cryptocurrency

Quark is a decentralized digital monetary system. It facilitates sending Quarks to Friends, Family Members Online Payments free of charges and charge-backs. Military Grade Encryption. No Bank or Government Control. Quark coins are based on the original idea of Bitcoin but improved, more secure, faster transaction times and zero fees. With improvements to design and security. There is also a greater coin supply with higher block rewards for miners. Quark is fully Open Source.
[link]

Name a 2017 / 2018 moonshot IEO that was initially popular and is now either dead or ghosting away - I'll start, SVD

SVD is Savedroid. Savedroid was an ICO in 2018 right at the peak of the mania, not quite at the top price wise, but still when greed was insanely high.
Now SVD raised an incredible $50 million, for an app that simply automates your saving. That's it. In today's environment I can see that going for maybe $500k or so, IF that. Maybe they could call themselves a Defi food coin instead and get some money in via uniswap.
Demand was very high, with all tokens sold in a week. So all it would do is you would set some criteria - say, if I do 10 push ups a day I want to save $1 into BTC, you'll input that and the app would buy the bitcoin with $1. (I have no idea why you couldn't do that manually, but anyway).
Things got off to a bad start when on day 1 the CEO, Yassin Hankir decided to pull a "fake exit scam", with a twitter message "thanks guys, over and out" with the website replaced with the message "...and its gone". He then back pedalled and said actually it was a joke and meant to show case other scammy projects. Investors weren't particularly amused, especially as this coincided with the coin listing, causing the price to plunge into the eternal depths of hell faster than Grin Coin or an FTX listing.
Well that doesn't really matter because the project seems to have died, with the founder moving onto another project, leaving behind an app that is apparently barely functional, and doesn't even allow ICO investors to use their SVD on the platform.
The ICO price was 1 cent - pretty cheap right? Well no, apparently the token price is now $0.0000541 with a daily volume of zero. Market cap it $158k, but no idea how that is calculated. Not exactly a great way to save if you were an investor!
Naturally they have been delisted from all but a couple of obscure DEXes and even there volume is dead (this is despite various promises of top exchanges).
And the cherry on top - last week the project rebranded as "Trumpbit", a new app that does the same thing (converts your money into BTC) by a certain amount each time Trump tweets. Only problem is people are having trouble moving their funds across from one platform to another, lost email addresses etc. I have no idea what happens if Trump loses the election, maybe it will be come Bidenbit or something. This is of course leaving aside the fact that your $50M ICO has rebranded to a coin named after Trump (not a political comment but a bit of a head scratcher).
You can even pop by their reddit sub, where there have been around 4 comments in 1 year, or if you are bold, visit their telegram group to see various howls of outrage and people wondering where their investment has gone.
Name and shame your preferred coin of death!
submitted by Cryptodragonnz to CryptoCurrency [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

Gridcoin 5.0.0.0-Mandatory "Fern" Release

https://github.com/gridcoin-community/Gridcoin-Research/releases/tag/5.0.0.0
Finally! After over ten months of development and testing, "Fern" has arrived! This is a whopper. 240 pull requests merged. Essentially a complete rewrite that was started with the scraper (the "neural net" rewrite) in "Denise" has now been completed. Practically the ENTIRE Gridcoin specific codebase resting on top of the vanilla Bitcoin/Peercoin/Blackcoin vanilla PoS code has been rewritten. This removes the team requirement at last (see below), although there are many other important improvements besides that.
Fern was a monumental undertaking. We had to encode all of the old rules active for the v10 block protocol in new code and ensure that the new code was 100% compatible. This had to be done in such a way as to clear out all of the old spaghetti and ring-fence it with tightly controlled class implementations. We then wrote an entirely new, simplified ruleset for research rewards and reengineered contracts (which includes beacon management, polls, and voting) using properly classed code. The fundamentals of Gridcoin with this release are now on a very sound and maintainable footing, and the developers believe the codebase as updated here will serve as the fundamental basis for Gridcoin's future roadmap.
We have been testing this for MONTHS on testnet in various stages. The v10 (legacy) compatibility code has been running on testnet continuously as it was developed to ensure compatibility with existing nodes. During the last few months, we have done two private testnet forks and then the full public testnet testing for v11 code (the new protocol which is what Fern implements). The developers have also been running non-staking "sentinel" nodes on mainnet with this code to verify that the consensus rules are problem-free for the legacy compatibility code on the broader mainnet. We believe this amount of testing is going to result in a smooth rollout.
Given the amount of changes in Fern, I am presenting TWO changelogs below. One is high level, which summarizes the most significant changes in the protocol. The second changelog is the detailed one in the usual format, and gives you an inkling of the size of this release.

Highlights

Protocol

Note that the protocol changes will not become active until we cross the hard-fork transition height to v11, which has been set at 2053000. Given current average block spacing, this should happen around October 4, about one month from now.
Note that to get all of the beacons in the network on the new protocol, we are requiring ALL beacons to be validated. A two week (14 day) grace period is provided by the code, starting at the time of the transition height, for people currently holding a beacon to validate the beacon and prevent it from expiring. That means that EVERY CRUNCHER must advertise and validate their beacon AFTER the v11 transition (around Oct 4th) and BEFORE October 18th (or more precisely, 14 days from the actual date of the v11 transition). If you do not advertise and validate your beacon by this time, your beacon will expire and you will stop earning research rewards until you advertise and validate a new beacon. This process has been made much easier by a brand new beacon "wizard" that helps manage beacon advertisements and renewals. Once a beacon has been validated and is a v11 protocol beacon, the normal 180 day expiration rules apply. Note, however, that the 180 day expiration on research rewards has been removed with the Fern update. This means that while your beacon might expire after 180 days, your earned research rewards will be retained and can be claimed by advertising a beacon with the same CPID and going through the validation process again. In other words, you do not lose any earned research rewards if you do not stake a block within 180 days and keep your beacon up-to-date.
The transition height is also when the team requirement will be relaxed for the network.

GUI

Besides the beacon wizard, there are a number of improvements to the GUI, including new UI transaction types (and icons) for staking the superblock, sidestake sends, beacon advertisement, voting, poll creation, and transactions with a message. The main screen has been revamped with a better summary section, and better status icons. Several changes under the hood have improved GUI performance. And finally, the diagnostics have been revamped.

Blockchain

The wallet sync speed has been DRASTICALLY improved. A decent machine with a good network connection should be able to sync the entire mainnet blockchain in less than 4 hours. A fast machine with a really fast network connection and a good SSD can do it in about 2.5 hours. One of our goals was to reduce or eliminate the reliance on snapshots for mainnet, and I think we have accomplished that goal with the new sync speed. We have also streamlined the in-memory structures for the blockchain which shaves some memory use.
There are so many goodies here it is hard to summarize them all.
I would like to thank all of the contributors to this release, but especially thank @cyrossignol, whose incredible contributions formed the backbone of this release. I would also like to pay special thanks to @barton2526, @caraka, and @Quezacoatl1, who tirelessly helped during the testing and polishing phase on testnet with testing and repeated builds for all architectures.
The developers are proud to present this release to the community and we believe this represents the starting point for a true renaissance for Gridcoin!

Summary Changelog

Accrual

Changed

Most significantly, nodes calculate research rewards directly from the magnitudes in EACH superblock between stakes instead of using a two- or three- point average based on a CPID's current magnitude and the magnitude for the CPID when it last staked. For those long-timers in the community, this has been referred to as "Superblock Windows," and was first done in proof-of-concept form by @denravonska.

Removed

Beacons

Added

Changed

Removed

Unaltered

As a reminder:

Superblocks

Added

Changed

Removed

Voting

Added

Changed

Removed

Detailed Changelog

[5.0.0.0] 2020-09-03, mandatory, "Fern"

Added

Changed

Removed

Fixed

submitted by jamescowens to gridcoin [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]

Purchasing from coinbase, help me make sure I got this right?

So I've never used coinbase because of the necessary ID. I have been using the coin ATMs but I'm trying to reduce the cost of the fees as the atm can be high at times. Is there a set fee or percentage calculator I can use to see what to expect from coinbase? Also the vendor I want to buy from doesn't take monero, is it a good idea to send the coins directly to my cake wallet or another block chain wallet then cake? Also I hear if you convert the coins from bitcoin to monero,then back to bitcoin those coins are no longer tied to the coinbase account. Do I got it right or is there something else I need to know?
submitted by jayrs97 to darknet [link] [comments]

Bitcoin! What it is!?

This material is published using the PII algorithm (point information impact) developed by zitramon1

Bitcoin is the lowest projection of the energy standard of the Higher Plans Erzanil and has nothing to do with money or cryptocurrencies. In its primary principle, bitcoin was intended to replace the modern banking credit monetary system to SES — the system of energy-informational-energy settlements / mutual settlements. Unfortunately, something went wrong.
Money is a deadly virus that in the past destroyed the vast majority of ancient highly developed civilizations of our planet. Our civilization is no exception. The real Bitcoin, which was supposed to replace the existing bank credit monetary system with a system of energy settlements, as well as countless times in the past, was successfully destroyed.
At the moment, bitcoin is deprived of its basic qualities. But, nevertheless, even in such a “truncated” form it is a powerful tool for terraforming the existing paradigm of the material world.
At the level of society or the manifested physical world, represented by the third dimension, Bitcoin is the Standard and Measure from which any Countdown starts, and which are the basis of all Principles. Bitcoin itself is not only composed of pure energy, but also itself is energy in the very purest form.
Our world is energy-informational. Everything that exists in this Universe and in this Dimension, as well as in many other dimensions, is the same Energy, but in its various states. And the state of Vibration of this energy, providing one or another level of its Density, just decides how it will manifest in our Reality. Matter is the compressed energy of slow vibration. In fact, bitcoin is the equivalent of energy, of which everything around us consists, including — and we are with you!
The tragedy of the majority is that it does not understand the true purpose of Bitcoin — it is that Measure of everything and everything from which the entire Countdown comes. Not the price of Bitcoin should be modeled in dollars, gold or parrots — which is absolutely equivalent, but the value of all other attributes of society in bitcoins!
The fractality of Bitcoin, as the foundation of any of the Worlds in which you are located, is reflected in its essence: at low-frequency levels, its projection represents two diverse anu combined in a single whole. It is this explosive-implosive particle that combines two opposites, and not some mythical atoms, quanta, neutrinos, and similar nonsense, is the basis of everything!
Not Satoshi is the smallest part of bitcoin, but a double anu or argo! Remember the catch phrase that personifies the synonym of all the great Beginnings — “like the Argonauts in the old days” !? Try to guess the first time about its origins, located on a subconscious level.
The mining process itself is nothing more than a manifestation of the lower projections of the energy standard of the higher planes of erzanil. The latter are “materialized” at the level of the third dimension or society in the form of bitcoins. During mining, the three main types of energy: electrical energy, the thermal energy of the video card / device itself and the energy that the programmer potentiated into the mining process itself, are converted into energy to fill the shells of bitcoins generated during the hashing process. This energy is stored in every bitcoin forever and will increase until the last block of the last bitcoin is fully mined.
This energy, which is potentialized in bitcoin, which can neither be felt nor touched, is what you get with bitcoin and / or any part of it !!! And in the future, invest it / Bitcoin, exchange, buy, change, etc. etc.
And it is this energy, in the future, that will serve as an evaluation standard for the value of all things.
The smallest part of bitcoin is not Satoshi, but Argo or the double Anu. One argo is one in minus twenty-first degree part of bitcoin, and its energy potential corresponds to one in minus twenty-first degree of it, bitcoin, the maximum possible energy content.
The entire energy potential of 21 million bitcoins determines the energy / energy-information capacity = energy / energy-information potential of the sephira Malkut of the Tree of life (Kabbalah) or the manifest physical world at the level of the third dimension.
In other words, all people including you and me, to some extent consist of bitcoins and represent its integral and composition parts! More confirmation of this:
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2020060606&tab=PCTBIBLIO
Calculations / mutual settlements by bitcoins are possible not only at the level of society / third dimension, but also on higher planes — astral and mental, since bitcoin is not an equivalent but pure energy and this makes subsequent contacts with more advanced forms of life possible other systems!
THAT’S WHAT IS THE ESSENCE OF BITCOIN!
p.s. You can see how bitcoin is managed here:
https://www.reddit.com/Bitcoin/comments/hy4x5y/is_bitcoin_real_bitcoin_today/
submitted by Yoo_Tu to Bitcoin [link] [comments]

Bitcoins Cashout - Current Bitcoin Value Exchange BTC To USD

Bitcoin is more popular today than it was a year or two ago. However, somehow people have not adopted it as steady money. Therefore, there are many reasons for withdrawing bitcoins and many reasons for liquidating this digital asset with fiat currency for use in everyday life.
Sometimes you may need to trade bitcoins to pay a bill, cover an emergency, or just buy a meal. In these cases, speed is of the essence of your needs, as no one has the time to wait three to four days for banking transactions. So when you need fast cash, you can simply exchange your cryptocurrency for paper money and meet your needs.
Although transactions and digital transfers are easy to accept, you must specify the currency in which you want to receive your payments, the amount of money that you will lose, the online payment method and the platform on which to use. Bitcoin to dollar calculator resolves all of these concerns with easy access and money transfer.
If you are somehow in the middle of a major currency crisis, you need to get access to the fastest possible platform for converting your bitcoins into fiat currency. Additionally, you must also consider the time taken to complete transactions. So, this is the reason why this cash withdrawal platform is much better than international bank transfers that take 3-4 business days.
How it works?
If you are wondering how to convert your bitcoin cash into fiat currency, you have come to the right place. Learn how to withdraw your Bitcoins using this platform. This cryptocurrency exchange platform is very easy to use and comfortable. It uses a simple interface that everyone can understand and makes this platform easier, more transparent, and free from fraud. On this site, you can sell and trade your Bitcoins and get fixed cash anonymously from anywhere in the world.
To use this amazing site, you don't need to create an account or fill out the login form. You only need to find the link, select the amount you want to change, a method for receiving your payment, and that's it. Now you just have to click on the "Apply Now" button. Now your transactions will be in your account in no time, and you can use them easily.
What to offer
You don't need to worry about the time it takes to complete the transaction or the speed of settling the digital currency because btc to dollar doesn't allow you to wait long to sell your Bitcoins. In addition, you will be constantly informed about the Bitcoin exchange rates and rates of the world's leading companies. Hence, this is the best place to sell blockchain cash for cash. Also, you can get your money instantly without giving your information. It does not require identification or personal data.
You can trust and trust this company in transactional matters. There is a wide range of options to receive cash in multiple currencies like Euro, US Dollar, Indian Rupee, etc. Additionally, it has fast mobile phone access in several languages. Also, the platform provides a 100% free wallet and account for you. Customer satisfaction is their top priority, and they have also introduced an app for their smartphones, which can be accessed anywhere in the world. This platform is completely safe and reliable. It is easy and effective to use.
This site offers great benefits to its clients. You don't have to worry about transaction fees as it is completely free on this platform. So don't just sit there and start making Bitcoins. Whenever you need an emergency fiat cash or any time or occasion, Bitcoinscashout is just a few clicks away.
submitted by khanbinazir to u/khanbinazir [link] [comments]

ETHE & GBTC (Grayscale) Frequently Asked Questions

It is no doubt Grayscale’s booming popularity as a mainstream investment has caused a lot of community hullabaloo lately. As such, I felt it was worth making a FAQ regarding the topic. I’m looking to update this as needed and of course am open to suggestions / adding any questions.
The goal is simply to have a thread we can link to anyone with questions on Grayscale and its products. Instead of explaining the same thing 3 times a day, shoot those posters over to this thread. My hope is that these questions are answered in a fairly simple and easy to understand manner. I think as the sub grows it will be a nice reference point for newcomers.
Disclaimer: I do NOT work for Grayscale and as such am basing all these answers on information that can be found on their website / reports. (Grayscale’s official FAQ can be found here). I also do NOT have a finance degree, I do NOT have a Series 6 / 7 / 140-whatever, and I do NOT work with investment products for my day job. I have an accounting background and work within the finance world so I have the general ‘business’ knowledge to put it all together, but this is all info determined in my best faith effort as a layman. The point being is this --- it is possible I may explain something wrong or missed the technical terms, and if that occurs I am more than happy to update anything that can be proven incorrect
Everything below will be in reference to ETHE but will apply to GBTC as well. If those two segregate in any way, I will note that accordingly.
What is Grayscale? 
Grayscale is the company that created the ETHE product. Their website is https://grayscale.co/
What is ETHE? 
ETHE is essentially a stock that intends to loosely track the price of ETH. It does so by having each ETHE be backed by a specific amount of ETH that is held on chain. Initially, the newly minted ETHE can only be purchased by institutions and accredited investors directly from Grayscale. Once a year has passed (6 months for GBTC) it can then be listed on the OTCQX Best Market exchange for secondary trading. Once listed on OTCQX, anyone investor can purchase at this point. Additional information on ETHE can be found here.
So ETHE is an ETF? 
No. For technical reasons beyond my personal understandings it is not labeled an ETF. I know it all flows back to the “Securities Act Rule 144”, but due to my limited knowledge on SEC regulations I don’t want to misspeak past that. If anyone is more knowledgeable on the subject I am happy to input their answer here.
How long has ETHE existed? 
ETHE was formed 12/14/2017. GBTC was formed 9/25/2013.
How is ETHE created? 
The trust will issue shares to “Authorized Participants” in groups of 100 shares (called baskets). Authorized Participants are the only persons that may place orders to create these baskets and they do it on behalf of the investor.
Source: Creation and Redemption of Shares section on page 39 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Note – The way their reports word this makes it sound like there is an army of authorizers doing the dirty work, but in reality there is only one Authorized Participant. At this moment the “Genesis” company is the sole Authorized Participant. Genesis is owned by the “Digital Currency Group, Inc.” which is the parent company of Grayscale as well. (And to really go down the rabbit hole it looks like DCG is the parent company of CoinDesk and is “backing 150+ companies across 30 countries, including Coinbase, Ripple, and Chainalysis.”)
Source: Digital Currency Group, Inc. informational section on page 77 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
Source: Barry E. Silbert informational section on page 75 of the “Grayscale Bitcoin Trust (BTC) Form 10-K (2019)” – Located Here
How does Grayscale acquire the ETH to collateralize the ETHE product? 
An Investor may acquire ETHE by paying in cash or exchanging ETH already owned.
Source: Creation and Redemption of Shares section on page 40 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Where does Grayscale store their ETH? Does it have a specific wallet address we can follow? 
ETH is stored with Coinbase Custody Trust Company, LLC. I am unaware of any specific address or set of addresses that can be used to verify the ETH is actually there.
As an aside - I would actually love to see if anyone knows more about this as it’s something that’s sort of peaked my interest after being asked about it… I find it doubtful we can find that however.
Source: Part C. Business Information, Item 8, subsection A. on page 16 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Can ETHE be redeemed for ETH? 
No, currently there is no way to give your shares of ETHE back to Grayscale to receive ETH back. The only method of getting back into ETH would be to sell your ETHE to someone else and then use those proceeds to buy ETH yourself.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Why are they not redeeming shares? 
I think the report summarizes it best:
Redemptions of Shares are currently not permitted and the Trust is unable to redeem Shares. Subject to receipt of regulatory approval from the SEC and approval by the Sponsor in its sole discretion, the Trust may in the future operate a redemption program. Because the Trust does not believe that the SEC would, at this time, entertain an application for the waiver of rules needed in order to operate an ongoing redemption program, the Trust currently has no intention of seeking regulatory approval from the SEC to operate an ongoing redemption program.
Source: Redemption Procedures on page 41 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the fee structure? 
ETHE has an annual fee of 2.5%. GBTC has an annual fee of 2.0%. Fees are paid by selling the underlying ETH / BTC collateralizing the asset.
Source: ETHE’s informational page on Grayscale’s website - Located Here
Source: Description of Trust on page 31 & 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
What is the ratio of ETH to ETHE? 
At the time of posting (6/19/2020) each ETHE share is backed by .09391605 ETH. Each share of GBTC is backed by .00096038 BTC.
ETHE & GBTC’s specific information page on Grayscale’s website updates the ratio daily – Located Here
For a full historical look at this ratio, it can be found on the Grayscale home page on the upper right side if you go to Tax Documents > 2019 Tax Documents > Grayscale Ethereum Trust 2019 Tax Letter.
Why is the ratio not 1:1? Why is it always decreasing? 
While I cannot say for certain why the initial distribution was not a 1:1 backing, it is more than likely to keep the price down and allow more investors a chance to purchase ETHE / GBTC.
As noted above, fees are paid by selling off the ETH collateralizing ETHE. So this number will always be trending downward as time goes on.
Source: Description of Trust on page 32 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
I keep hearing about how this is locked supply… explain? 
As noted above, there is currently no redemption program for converting your ETHE back into ETH. This means that once an ETHE is issued, it will remain in circulation until a redemption program is formed --- something that doesn’t seem to be too urgent for the SEC or Grayscale at the moment. Tiny amounts will naturally be removed due to fees, but the bulk of the asset is in there for good.
Knowing that ETHE cannot be taken back and destroyed at this time, the ETH collateralizing it will not be removed from the wallet for the foreseeable future. While it is not fully locked in the sense of say a totally lost key, it is not coming out any time soon.
Per their annual statement:
The Trust’s ETH will be transferred out of the ETH Account only in the following circumstances: (i) transferred to pay the Sponsor’s Fee or any Additional Trust Expenses, (ii) distributed in connection with the redemption of Baskets (subject to the Trust’s obtaining regulatory approval from the SEC to operate an ongoing redemption program and the consent of the Sponsor), (iii) sold on an as-needed basis to pay Additional Trust Expenses or (iv) sold on behalf of the Trust in the event the Trust terminates and liquidates its assets or as otherwise required by law or regulation.
Source: Description of Trust on page 31 of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
Grayscale now owns a huge chunk of both ETH and BTC’s supply… should we be worried about manipulation, a sell off to crash the market crash, a staking cartel? 
First, it’s important to remember Grayscale is a lot more akin to an exchange then say an investment firm. Grayscale is working on behalf of its investors to create this product for investor control. Grayscale doesn’t ‘control’ the ETH it holds any more then Coinbase ‘controls’ the ETH in its hot wallet. (Note: There are likely some varying levels of control, but specific to this topic Grayscale cannot simply sell [legally, at least] the ETH by their own decision in the same manner Coinbase wouldn't be able to either.)
That said, there shouldn’t be any worry in the short to medium time-frame. As noted above, Grayscale can’t really remove ETH other than for fees or termination of the product. At 2.5% a year, fees are noise in terms of volume. Grayscale seems to be the fastest growing product in the crypto space at the moment and termination of the product seems unlikely.
IF redemptions were to happen tomorrow, it’s extremely unlikely we would see a mass exodus out of the product to redeem for ETH. And even if there was incentive to get back to ETH, the premium makes it so that it would be much more cost effective to just sell your ETHE on the secondary market and buy ETH yourself. Remember, any redemption is up to the investors and NOT something Grayscale has direct control over.
Yes, but what about [insert criminal act here]… 
Alright, yes. Technically nothing is stopping Grayscale from selling all the ETH / BTC and running off to the Bahamas (Hawaii?). BUT there is no real reason for them to do so. Barry is an extremely public figure and it won’t be easy for him to get away with that. Grayscale’s Bitcoin Trust creates SEC reports weekly / bi-weekly and I’m sure given the sentiment towards crypto is being watched carefully. Plus, Grayscale is making tons of consistent revenue and thus has little to no incentive to give that up for a quick buck.
That’s a lot of ‘happy little feels’ Bob, is there even an independent audit or is this Tether 2.0? 
Actually yes, an independent auditor report can be found in their annual reports. It is clearly aimed more towards the financial side and I doubt the auditors are crypto savants, but it is at least one extra set of eyes. Auditors are Friedman LLP – Auditor since 2015.
Source: Independent Auditor Report starting on page 116 (of the PDF itself) of the “Grayscale Ethereum Trust Annual Report (2019)” – Located Here
As mentioned by user TheCrpytosAndBloods (In Comments Below), a fun fact:
The company’s auditors Friedman LLP were also coincidentally TetheBitfinex’s auditors until They controversially parted ways in 2018 when the Tether controversy was at its height. I am not suggesting for one moment that there is anything shady about DCG - I just find it interesting it’s the same auditor.
“Grayscale sounds kind of lame” / “Not your keys not your crypto!” / “Why is anyone buying this, it sounds like a scam?” 
Welp, for starters this honestly is not really a product aimed at the people likely to be reading this post. To each their own, but do remember just because something provides no value to you doesn’t mean it can’t provide value to someone else. That said some of the advertised benefits are as follows:
So for example, I can set up an IRA at a brokerage account that has $0 trading fees. Then I can trade GBTC and ETHE all day without having to worry about tracking my taxes. All with the relative safety something like E-Trade provides over Binance.
As for how it benefits the everyday ETH holder? I think the supply lock is a positive. I also think this product exposes the Ethereum ecosystem to people who otherwise wouldn’t know about it.
Why is there a premium? Why is ETHE’s premium so insanely high compared to GBTC’s premium? 
There are a handful of theories of why a premium exists at all, some even mentioned in the annual report. The short list is as follows:
Why is ETHE’s so much higher the GBTC’s? Again, a few thoughts:

Are there any other differences between ETHE and GBTC? 
I touched on a few of the smaller differences, but one of the more interesting changes is GBTC is now a “SEC reporting company” as of January 2020. Which again goes beyond my scope of knowledge so I won’t comment on it too much… but the net result is GBTC is now putting out weekly / bi-weekly 8-K’s and annual 10-K’s. This means you can track GBTC that much easier at the moment as well as there is an extra layer of validity to the product IMO.
I’m looking for some statistics on ETHE… such as who is buying, how much is bought, etc? 
There is a great Q1 2020 report I recommend you give a read that has a lot of cool graphs and data on the product. It’s a little GBTC centric, but there is some ETHE data as well. It can be found here hidden within the 8-K filings.Q1 2020 is the 4/16/2020 8-K filing.
For those more into a GAAP style report see the 2019 annual 10-K of the same location.
Is Grayscale only just for BTC and ETH? 
No, there are other products as well. In terms of a secondary market product, ETCG is the Ethereum Classic version of ETHE. Fun Fact – ETCG was actually put out to the secondary market first. It also has a 3% fee tied to it where 1% of it goes to some type of ETC development fund.
In terms of institutional and accredited investors, there are a few ‘fan favorites’ such as Bitcoin Cash, Litcoin, Stellar, XRP, and Zcash. Something called Horizion (Backed by ZEN I guess? Idk to be honest what that is…). And a diversified Mutual Fund type fund that has a little bit of all of those. None of these products are available on the secondary market.
Are there alternatives to Grayscale? 
I know they exist, but I don’t follow them. I’ll leave this as a “to be edited” section and will add as others comment on what they know.
Per user Over-analyser (in comments below):
Coinshares (Formerly XBT provider) are the only similar product I know of. BTC, ETH, XRP and LTC as Exchange Traded Notes (ETN).
It looks like they are fully backed with the underlying crypto (no premium).
https://coinshares.com/etps/xbt-provideinvestor-resources/daily-hedging-position
Denominated in SEK and EUR. Certainly available in some UK pensions (SIPP).
As asked by pegcity - Okay so I was under the impression you can just give them your own ETH and get ETHE, but do you get 11 ETHE per ETH or do you get the market value of ETH in USD worth of ETHE? 
I have always understood that the ETHE issued directly through Grayscale is issued without the premium. As in, if I were to trade 1 ETH for ETHE I would get 11, not say only 2 or 3 because the secondary market premium is so high. And if I were paying cash only I would be paying the price to buy 1 ETH to get my 11 ETHE. Per page 39 of their annual statement, it reads as follows:
The Trust will issue Shares to Authorized Participants from time to time, but only in one or more Baskets (with a Basket being a block of 100 Shares). The Trust will not issue fractions of a Basket. The creation (and, should the Trust commence a redemption program, redemption) of Baskets will be made only in exchange for the delivery to the Trust, or the distribution by the Trust, of the number of whole and fractional ETH represented by each Basket being created (or, should the Trust commence a redemption program, redeemed), which is determined by dividing (x) the number of ETH owned by the Trust at 4:00 p.m., New York time, on the trade date of a creation or redemption order, after deducting the number of ETH representing the U.S. dollar value of accrued but unpaid fees and expenses of the Trust (converted using the ETH Index Price at such time, and carried to the eighth decimal place), by (y) the number of Shares outstanding at such time (with the quotient so obtained calculated to one one-hundred-millionth of one ETH (i.e., carried to the eighth decimal place)), and multiplying such quotient by 100 (the “Basket ETH Amount”). All questions as to the calculation of the Basket ETH Amount will be conclusively determined by the Sponsor and will be final and binding on all persons interested in the Trust. The Basket ETH Amount multiplied by the number of Baskets being created or redeemed is the “Total Basket ETH Amount.” The number of ETH represented by a Share will gradually decrease over time as the Trust’s ETH are used to pay the Trust’s expenses. Each Share represented approximately 0.0950 ETH and 0.0974 ETH as of December 31, 2019 and 2018, respectively.

submitted by Bob-Rossi to ethfinance [link] [comments]

10-03 23:35 - 'How do I calculate the entry position for BNB/BTC deal?' (self.Bitcoin) by /u/dev_lurve removed from /r/Bitcoin within 27-37min

'''
I know that this questions might not directly relate to Bitcoin, but I am just looking for reddits where I can get help wrt to such questions.
Hi guys,
  1. I trade on Binance.
  2. My account currency is BUDS (just want to have the USD-pegged stablecoin as the account currency). I assume that it's always pegged to $1...
  3. My account amount is $1000.
  4. I want to sell BNB/BTC because I believe that the chart is going to go down.
  5. My SL is at 0.0026700, and my entry is at 0.0026340. I want to enter on the spot market. Thus, the SL BTC-wise is 0.0000360.
  6. I want to have the 1% risk exposure to my account (i.e. the exposure for -$10).
  7. (and just fyi I plan to exit at TP = SLx2; and just fyi, I use the mental SL and TP)
  8. How to I calc the actual amount for my order. As far as I understand, I need to first convert the BTC-wise SL distance from BTC to USD, right? I.e. 0.0000360 BTC x 10500 $ = 0.4$. So, I got this part, but I am not getting what my next steps should be.
Thanks for your advice in advance!
'''
How do I calculate the entry position for BNB/BTC deal?
Go1dfish undelete link
unreddit undelete link
Author: dev_lurve
submitted by removalbot to removalbot [link] [comments]

I keep seeing people making wrong assumptions about the value of COIN, and XYO in general. Hopefully more read this and take note going forward

-“The amount of XYO you receive for 10K coin flucuates based on the price of XYO in USD”. FALSE! Bitcoin and ETH are traded on exchanges directly for $ and these trades dictate their posted “value”. XYO cannot be traded currently for $, and has to be converted into $ through some other crypto. Likely the posted $USD “values” of XYO are calculated from the exchanges for Bitcoin and ETH and their current respective values. Further, the parent company of the app dictates the exchange rate of COIN to XYO
-“The value of XYO went up! Look at my wallet and how much money I’ve made!” NOPE...just no...Yes it’s exciting that the perceived value of XYO has gone up - it’s something we all look forward too. However, you actually haven’t made ANYTHING until you cash it out. The value of XYO could plummet tomorrow - despite all the graphs posted showing “now is a good time to buy because I drew lines on a chart” you truly can’t predict the whims/confidence of the masses when trading crypto. Last, and most importantly, you currently can’t exchange XYO for $ directly - you have to convert it to another crypto and then sell that crypto. Both steps require a HUGE percentage to be taken off the top, which will reduce your profits further. Factor those losses in, and show what your net gain in profit would be (accounting for how much you bought the XYO for in the first place) and that’s more relevant. Or just don’t brag - I and others don’t care that you think you are a millionaire.
coin2xyo.com
submitted by adamkerry21423 to CoinWithUs [link] [comments]

Why choose Bitcoin Cash?

Some of you might be coming to this sub, and wondering why so many people support Bitcoin Cash. This is directly answered in the pinned FAQ, and also briefly goes over the history of the sub. Now onto why Bitcoin Cash has huge potential when it comes to changing the world:
Bitcoin Cash was created with the purpose of bringing economic freedom to everyone all across the globe. With the current banking, financial, and payment systems, there are many issues when it comes to the usability of money. These issues are:
- Sending money across the globe without having to pay high fees (percentage fees), and waiting days or even weeks for your transfer to go through
- Having payment options like Visa and Mastercard that help deal with high-volume business, but having to pay a flat fee ($0.15), and a fee of 2%-3% per purchase
- Having full control over your money, so the government can't devalue your savings by printing more money for their personal interests
- Being able to use your money however you like, without having to get permission from an intermediary, middleman, or financial institution
- Being able to know how much money will be circulating at any given time in the future
- Paying high fees (4%+) for converting currency when travelling
Let's take a look at how Bitcoin Cash solves these problems:
Remittance
When it comes to sending money across the globe from one bank account to another, often times the fees will be very high because when your bank is sending money, it has to go through several intermediary banks that each take from the initial amount of money, making the process slow, and expensive. Currently, Western Union is advertising "free" transfers of currency across the globe. Seems like a good deal, right? Well here's the thing: they're tricking you into thinking that transfers are free when they're actually making money off of the exchange rate. We believe that money (digital cash) should be as frictionless as possible, and that a user shouldn't have to deal with transfer fees, and have to get permission to transfer their money from one bank to another. Currently, the fees on Bitcoin Cash are only $0.0007, and we plan on keeping them that low.
Payment Systems
When it comes to traditional payment systems, like Visa, Mastercard, and American Express, credit card companies often charge a 2%-3% fee on every transaction that takes place, and a transaction can take anywhere from 24-36 hours to confirm, and go into a merchant's bank account. These payment systems are both slow and expensive. With Bitcoin Cash, your funds are available instantly for you to spend, but if you want to take extra security measures, you can always wait ~10 minutes for a confirmation to go through.
Control Over Your Own Money
With the banking system as we currently know it, one of the biggest problems is the lack of control your have over your own money. Every year, people are forced to pay taxes to politicians only to have their money basically wasted on providing effectively nothing to them. Bitcoin Cash solves this problem by giving you full control over your money. Making a wallet does not require anyone to give ID, personal information, or anything that could potentially lead to the government having any say in what you can do with your hard-earned money. Another issue with traditional currencies is the inflationary nature of them. This is another form of taxation that doesn't appear to be as bad as taxing, but it's just a different way of taking money from the hands of citizens. When the government prints more money, your savings get devalued, meaning that the government has effectively stolen money without physically "stealing" it. With Bitcoin Cash, the inflation relies on a purely mathematical system in which the maximum number of Bitcoins will always be 21 million. With mathematical certainty, you can always be sure of the exact supply of Bitcoins based on the block number. I made a graph that helps illustrate this with >99.99997% accuracy on how many Bitcoin Cash will be in circulation based on the block height. This works for Bitcoin, and Bitcoin SV too. You can check the accuracy by putting the block height/number in the brackets of the second expression.
Currency Conversion
Have you ever travelled to another country where you had to convert to the local currency in order to be able to use it? If so, you would've realized that conversion rates can often be very high, and it is impractical to do unless you're converting a large sum of money. Our idea is to increase merchant adoption so that Bitcoin Cash can have its own economy, so it doesn't matter where in the world you are, you can always use Bitcoin Cash, and not have to worry about conversion fees. If you want to "convert" to another currency, you can always use SLP tokens that will eventually come in a variety of local fiat currencies in the near future. Tether USDT is already planning to make SLP tokens too. This is also a great alternative if you aren't sure whether you want to put your money into crypto, and want to stick with fiat instead. Think of SLP tokens as "paper" tokens on top of Bitcoin Cash that can be sent and received for fractions of a penny!
How to use Bitcoin Cash for Buying Goods and Services
Right now, there are many ways you can use Bitcoin Cash, including local usage, and online usage. If you want to see which merchants near you accept Bitcoin Cash, you can check using map.bitcoin.com and see which local merchants are accepting Bitcoin Cash. If you want to buy things online, you can use purse.io, and get 30% off on any Amazon purchase, so you contribute to the economy of growing Bitcoin Cash, and get a great deal for any item you want to buy!
TL;DR: Bitcoin Cash is sound money which you have full control over your own money, and allows you to send any amount of money, anywhere in the world, instantly, and practically for free. If you have any additional questions, feel free to comment.
Resources:
Bitcoin Inflation Graph: https://www.desmos.com/calculatolaijpbrh4s
Buy things on Amazon using Bitcoin Cash: https://purse.io/shop
purse.io chrome extension: https://chrome.google.com/webstore/detail/purse-shop-with-bitcoin-b/amdginnpaflghjbbdkfenpekaeifnpee
See which local merchants accept Bitcoin Cash: https://map.bitcoin.com/
Wallets with Bitcoin Cash: Electron Cash, Bitcoin.com Wallet, Exodus, Badger Wallet
Bitcoin Cash website: https://bitcoincash.org
submitted by 1MightBeAPenguin to btc [link] [comments]

Why is it so fucking difficult to die?

I never wanted to exist. I want to die. There isn't anything in this world that's going to change my mind. I don't want to get better. My mental and physical illness might actually be curable but I don't want to get better. I never enjoyed life and the only reason I am alive is simply due to my parents' selfishness and their decision to bring this misery upon me. I never asked to be born and no, life isn't a 'gift'. Life is pain, misery and dread.
I am too much of a coward man. I tried to take my life once but didn't do any research on my method so obviously, as you can see, I failed tremendously. I took a bunch of Xanax pills and downed them with alcohol hoping they'll make me go into cardiac arrest or maybe make me stop breathing...a simple google search would've saved me some time, because you need HUGE amounts of benzos in order to overdose and die...yet I went through it because it was an impulse decision so not much thought was put into it.
I woke up with a terrible headache and in a pile of vomit. I wish I had the courage to attempt it again, in a different way, but I'm too much of a pussy. That failed attempt disappointed me so much because it proved me that I'm such a failure that I can't even kill myself. I've been researching suicide methods ever since, but I just can't bring myself to do it, yet I somehow will. I need to.
 
Looked up every single suicide method. Most of them have a high chance of survival and it can leave you crippled and even more miserable. Others, will leave you in agonizing pain for a few minutes or even hours before you die and I just don't have the guts to go for it. I am a huge coward. Who knows, maybe I'm just not ready to kill myself yet, as much as I want it??? Possibly.
Jumping in front of a train? Nope, there's a chance of living through it and suffering 100 times more. Jumping off a building? Literally same. If you're unlucky, you can jump off a skyscraper and survive (there's an actual story of some dude who fell off a 47-floor building and survived). Shooting my brains out would probably be my best deal but since I live in a shithole of a country in Eastern Europe, it's nearly impossible for me to get a gun. I'm currently doing some research on hanging since it's the most accessible and inexpensive suicide method out there and I've read that you can calculate the height of your jump in order to break off your spinal cord and die instantly. But if you miscalculate, you will either end up decapitated or you'll be awake and conscious through the whole thing and it can take you 15 minutes of unbearable pain to finally succumb to hanging. Overdosing on pills? I can't think of anything besides opiates since everything else will just fuck you up even more without actually killing you.
So what am I left with? Oh yes, opiates. Good old heroin. There's stories on the web from people who have survived heroin ODs and said that it was absolute bliss. You just go in a deep sleep and (hopefully) don't wake up. No hallucinations or paranoia or shit that you'd experience with other types of drugs. Just peace.
 
So I started to look for a heroin plug in my area. It's not easy living in a small city because you're out of luck. At some point, I was so desperate that I stopped giving a fuck about the risks involved and I just straight up started questioning people if they knew any heroin dealers in the area. I was met with surprised reactions, some were weirded out, some were concerned. Luckily, I'm not in prison so lucky me I guess, would be a shame to run into an undercover cop or something. Long story short, I couldn't find a dealer for the love of me. So here I am, browsing the darknet.
It took me a few weeks to learn the ropes. There's special software like Tails, Tor, PGP/Kleopatra, and the bitcoin wallet of choice. Still, no one will actually guarantee that you don't get scammed. I'm still struggling with the actual encryption of the messages so that I won't get in trouble. It fucking sucks. I just want to die and I can't understand all the unnecessary struggle I need to undergo. I wish it were as simple as going to the hospital, signing a paper and asking for a lethal shot. Yet, only a few countries around the world have legalized euthanasia and it fucking blows. I didn't choose to come into this life so why am I forced to stay?
I can't find anyone who is willing to fucking help. I have tried reaching out online, both on the clearnet and the darknet and all the feedback I've received was from people who "want me to get better". Why the fuck does everyone attach this special value to life? Why does everyone care about a random stranger's death so much? I don't want to live, is it a crime to hate life? It certainly seems so.
 
There's so much stuff I'm going to risk. I thing I have found a potential vendor on the darknet who has great reviews and feedback. I'm going to order from him as soon as I figure out how to convert real money into cryptocurrency. I might just wake up with the cops knocking on my door, who knows? Maybe my pack will get seized. I might be thrown in jail since my country has stupid drug laws. Even if I DO get my hands on heroin, I know nothing about it. I don't know how to shoot up and missing a vein can lead to amputation. Can you freaking believe it? You're trying to off yourself but instead you end up with an amputated arm. Amazing. I know nothing about how to cook the heroin, how to shoot it up and how much to take. I know nothing about the purity of heroin and I might end up with some shit grade heroin that isn't going to kill me anyway. There's no fucking way to die peacefully. But anyway, I'll go through this. Not sure why I even wrote this, just needed to vent I guess.
 
Wish me luck.
submitted by FeatheredDrake to SuicideWatch [link] [comments]

How Bitcoin Mining Works

When you hear about bitcoin “mining,” you envisage coins being dug out of the ground. But bitcoin isn’t physical, so why do we call it mining?
Similar to gold mining, bitcoins exist in the protocol’s design just as the gold exists underground, but they haven’t been brought out into the light yet, just as the gold hasn’t yet been dug up.
The bitcoin protocol stipulates that a maximum of 21 million bitcoins will exist at some point. What miners do is bring them out into the light, a few at a time. Once miners finish mining all these coins, there won’t be more coins rolling out unless the bitcoin protocol changes to allow for a larger supply. Miners get paid in transaction fees for creating blocks of validated transactions and including them in the blockchain.
To understand how bitcoin mining works, let’s backtrack a little bit and talk about nodes. A node is a powerful computer that runs the bitcoin software and fully validates transactions and blocks. Since the bitcoin network is decentralized these nodes are collectively responsible for confirming pending transactions.
Anyone can run a node—you just download the free bitcoin software. The drawback is that it consumes energy and storage space – the network at time of writing takes hundreds of gigabytes of data. Nodes spread bitcoin transactions around the network. One node will send information to a few nodes that it knows, who will relay the information to nodes that they know, etc. That way, the pending transaction ends up getting around the whole network pretty quickly.
Some nodes are mining nodes,usually referred to as miners. These chunk outstanding transactions into blocks and add them to the blockchain. How do they do this? By solving a complex mathematical puzzle that is part of the bitcoin program, and including the answer in the block.
The puzzle that needs solving is to find a number that, when combined with the data in the block and passed through a hash function (which converts input data of any size into output data of a fixed length, produces a result that is within a certain range.
For trivia lovers, this number is called a “nonce”, which is an abbreviation of “number used once.” In the blockchain, the nonce is an integer between 0 and 4,294,967,296.
How do they find this number? By guessing at random. The hash function makes it impossible to predict what the output will be. So, miners guess the mystery number and apply the hash function to the combination of that guessed number and the data in the block. The resulting hash starts with a certain number of zeroes. There’s no way of knowing which number will work, because two consecutive integers will give wildly varying results. What’s more, there may be several nonces that produce the desired result, or there may be none. In that case, the miners keep trying but with a different block configuration.
The difficulty of the calculation (the required number of zeros at the beginning of the hash string) is adjusted frequently, so that it takes on average about 10 minutes to process a block.
Why 10 minutes? That is the amount of time that the bitcoin developers think is necessary for a steady and diminishing flow of new coins until the maximum number of 21 million is reached (expected some time in 2140).
The first miner to get a resulting hash within the desired range announces its victory to the rest of the network. All the other miners immediately stop work on that block and start trying to figure out the mystery number for the next one. As a reward for its work, the victorious miner gets some new bitcoin.
At the time of writing, the reward is 6.25 bitcoins per block, which is worth around $56,000 in June 2020.
However, it’s not nearly as cushy a deal as it sounds. There are a lot of mining nodes competing for that reward, and the more computing power you have and the more guessing calculations you can perform, the luckier you are.
Also, the costs of being a mining node are considerable, not only because of the powerful hardware needed, but also because of the large amounts of electricity consumed by these processors.
And, the number of bitcoins awarded as a reward for solving the puzzle will decrease. It’s 6.25 now, but it halves every four years or so (the next one is expected in 2024). The value of bitcoin relative to cost of electricity and hardware could go up over the next few years to partially compensate for this reduction, but it’s not certain.
If you’ve made it this far, then congratulations! There is still so much more to explain about the system, but at least now you have an idea of the broad outline of the genius of the programming and the concept. For the first time we have a system that allows for convenient digital transfers in a decentralized, trust-free and tamper-proof way.
submitted by hackatoshi to u/hackatoshi [link] [comments]

List of beer money opportunities in Ireland and most countries worldwide

Please DO NOT post articles promoting these.

The list will consist of 4 parts.

Part 1: Surveys, studies, watching videos, playing games etc.

Swagbucks | Click here to get 300 SB points (3$) when signing up. Note that you need to earn 300 SB within the first 30 days of signing up to get your bonus. * Payout options: PayPal, Amazon gift cards and more. * Swagbucks payment proofs 1 / 2 * Surveys, polls, download offers, sign up offers, cashback when shopping etc. * Tips to earn more: * Click here to add the SwagButton to earn cashback on websites you visit. * Go to the "Discover" section and do offers such as download/install games. They usually pay between 50 to 2000 SB (0.50$ to 20$). * Get 1000 SB for subscribing to Disney + for a year (equivalent of $10) and many more. * Offers change regularly. You should never get bored and have small tasks to do every day.
Survey Time | Click here to sign up * Payout options: PayPal, Amazon gift card and Bitcoin * SurveyTime Payment proofs 1 / 2 / 3 / 4 / 5 * The average length of each survey is roughly 10 minutes and you will usually earn 1$ (sometimes 0.50$ but they inform you before). * You get paid instantly (within minutes with PayPal).
OfferNation | Click here to sign up * Sign up bonus: $0.25 * Payout options: PayPal and Skrill * Points proof | PayPal payment proof | Email payment proof * Wide range of surveys * You might need to send a utility bill or any document with your name on it. It is to prevent fraud. I had to do that myself, I just sent them my broadband utility bill. * You get paid almost instantly as you can cash out from $1
Prolific | Click here to sign up * Payout option: PayPal * Payment proof 1 / Payment proof 2
I've had many more studies but I'm not going to write them all down, it's just to let you know what kind of studies you can expect.
ySense | Click here to sign up * Payout options: PayPal, Amazon gift cards and more. * Similar to Swagbucks.
InstaGC | Click here to sign up * Sign up bonus: 10 points * Payout options: PayPal and Bitcoin * PayPal payment proof / Email payment proof * Similar to Swagbucks.
GG2U | Click here to sign up * Sign up bonus: $1 * Payout options: PayPal, Bitcoin * Similar to Swagbucks.
Gain.gg | Click here to sign up * Sign up bonus: 100 coins * Payout options: Cryptocurrencies (Bitcoin, Ethererum, Litecoin and more). * Similar to Swagbucks.
TimeBucks | Click here to sign up * Sign up bonus: $1 * Payout options: PayPal, Payeer and Bitcoin * Similar to Swagbucks.
ZoomBucks | Click here to sign up * Sign up bonus: 500 points * Payout options: PayPal, Amazon gift cards and more. * Similar to Swagbucks.
GrabPoints | Click here to sign up * Sign up bonus: 500 points * Payout options: PayPal, Amazon gift cards and more. * Similar to Swagbucks.
FeaturePoints | Click here to sign up * Sign up bonus: 50 points * Payout options: PayPal, Visa gift card, Amazon gift cards, Bitcoin and more * Enter the code 9BGX93 to get 50 points if you download the app directly from your mobile phone. * Similar to Swagbucks.
PrizeRebel | Click here to sign up * Payout options: PayPal, Amazon gift cards and more * Similar to Swagbucks.
Market Agent | Click here to sign up * Payout options: PayPal, Skrill and Bank transfer * Surveys
TestingTime | Click here to sign up * Payout options: PayPal, Direct deposit * Test new products & services and earn up to €50 per hour. * I haven’t had any luck yet with this site but maybe you’ll be lucky! * They should send you an email whenever a product or service needs to be tested.

Part 2: Mobile apps only

AttaPoll (Android and IOS) | https://attapoll.app/join/lygpl * Payout options: PayPal, Revolut, Ethereum * AttaPoll payment proof * Short surveys. Usually take between 1 to 10 minutes.
Poll Pay (Android and IOS) | Android | iPhone * Sign up bonus: 0.23€ when using this code N6D2DC84BB * Payout options: PayPal, App Store/iTunes and Spotify Premium * Poll Pay payment proof * Short surveys. Usually between 5 to 10 minutes.
Money App (Android and IOS) | http://moneyapp.org/app * Sign up bonus: 200 Credits when using this code 71YNBT * Payout option: PayPal * Surveys, installing/playing games, signing up to sites etc.
CashKarma (Android and IOS) | https://cashkar.ma/nP0H05HOz8 * Sign up bonus: 300 Karma points. Go to the top right corner of the app and enter weaselbusters * Payout options: PayPal, Google Play, Xbox Live and Steam * Surveys, installing/playing, signing up to sites etc.
BeMyEye (Android and IOS) | https://bemyeye.com/earn-money/ * Sign up bonus: 1€ when you enter this code j5z6pk and complete your first mission. * Payout options: PayPal and Bank transfer * This app allows you to earn money by completing missions. They include taking pictures at specific locations in your area, answering questions and following instructions given to you by the app.
StreetBees (Android and IOS) | Android | iPhone * Sign up bonus: 1€ when you enter this code 8572TF * Payout option: PayPal * Stories (these are basically surveys, but they show as if someone was asking you questions on a messaging app)
Givvy app (Android and IOS) | Android | iPhone
BigCash (Android and IOS) | Android | iPhone * Sign up bonus: 70 coins when you enter this code nwzh7k5z after installing the app * Payout options: PayPal, Amazon gift card etc. * Earn points by watching videos, checking in every day, surveys etc.
BuzzBreak (Android only, coming soon to IOS) | http://bit.ly/2vpqKU6 * Sign up bonus: 500 points when entering referral code B22603141 after you start using the app. * Earn cash by simply reading the news, checking in every day and play games. * I would advise you to only use this if you plan on reading the news from this app. Watching videos and playing games for the purpose of earning points is not really worth it, unless you have a lot of free time.

Part 3: Passive income for Windows/Linux/Mac OS and mobile apps

HoneyGain (Windows, Mac OS and Android) | Click here to sign up and claim your first $5 * Payout option: PayPal * Install their software on your computer and leave it running in the background. * This software basically shares some of your Internet traffic. * Completely passive because once installed and signed in, you will start earning and it will load up as soon as your start up your computer.
PacketStream (Windows, Linux and Mac OS) | Click here to sign up * Payout option: PayPal * Same concept as HoneyGain
Money SMS (Android only) | Click here to download * Sign up bonus: 0,25€ when using this code MZ2GLM24 * Payout option: PayPal * Money SMS payment proof * App to download on your mobile where you receive up to 2 texts per day. You will earn 0.02€ per text. * These are very random texts and you don't need to read them. There are days I don't receive any texts at all and times I receive 2 texts at a time every day. * It's totally passive as you only need to download the app and wait.
McMoney (Android only) | From your mobile phone, go to https://mcmoneyapp.com/ Click on Download APK and install the app. * Sign up bonus: $0,25 when using this code V6TM2KP5 * Payout option: PayPal * Same concept as Money SMS * They pay $0.05 per text (twice more than Money SMS but I personally run both on my mobile).
LoadTeam (Windows only) | Click here to sign up and get your first $0.20 * Payout option: PayPal * You will need to download their software on your computer and leave it running. * This app basically "harvests" your computer's idle power. * Note that your computer could run slow if you don't change the settings on their software. * Tip: I would advise to use this only if you use your computer at the same time. Leaving this particular software running for the purpose of simply earning money might not be worth it. * Once you install it, you can see how much money you could potentially make as it all depends on your computer's performance.
eBesucher (Windows, Linux and Mac OS) | Click here to sign up * Payout options: PayPal and bank transfer * Autosurf that launches random advertised websites on your browser. You can also earn points by reading emails they send you but then it wouldn't be a passive income. I personally just let the Autosurf running. * The main purpose of an Autosurf is for new websites to bring traffic. * You will need to download their software on your computer and leave it running. * Simply hit "Start" once the software is installed.

Part 4: Ireland only - Surveys and Scanning groceries for cashback

Mobrog | Click here to sign up * Payout options: PayPal and Skrill * Mobrog payment proof * Surveys. Note that your reward will usually show the next day.
Shop and Scan | Click here to sign up * Payout options: One4all, Amazon, Penneys, Zalando, Clarks and more. * Shop and Scan payment proof | Shop and Scan points earned proof (past 30 days) * Earn cash back when scanning your groceries. * Once you sign up, you will receive a barcode scanner by post with a book. * Every time you go shopping (once a week), scan the items you bought, take a picture of your receipt and upload them to their site through their app. * Uploading a receipt = 60 points * Scanning and uploading your groceries = 140 points * That's a total of 2€ every week. (Doesn't sound like much but that's a free 8€ per month spending no more than 5 minutes each time). * Once they are in contact with you via email with the full application to join, I would really appreciate if you could enter the panel number 916062 into your application to confirm the referral.
Redclive | Click here to sign up * Payout option: Cheques sent by post * Redclive payment proof email | Redclive payment proof * This is my favorite Irish survey site. They pay 1€ for every 5 minutes spent. * The only downside is that you need to reach 50€ to receive your cheque. Once you reach that amount, they will send you a cheque automatically by post and that takes 2 to 3 weeks.
IrishOpinions | Click here to sign up * Payout options: Amazon, Tesco, Penneys, TK Maxx and more. * IrishOpinions payment proof email | IrishOpinions payment proof Tesco gift card * Same as Redclive. They don’t pay as well but you can cash out once you reach 10€
Toluna | Click here to sign up * Payout options: PayPal, Spotify and Homesense * Surveys and play games like memory cards and MatchMania (similar to candy crush).
Acumen Panel | Click here to sign up * Payout options: AllGifts.ie voucher * Acumen payment proof email | Payment proof AllGifts.ie voucher * Surveys. They pay as much as Redclive (1€ for every 5 minutes spent) but I don't get many surveys from them. I've had one survey from them very recently that took me about 10 minutes for 250 points (2.5€).
Media Opinions Ireland | Click here to sign up * Payout options: One4all and iTunes. * Daily short survey. I don’t get many other surveys from them.
submitted by weaselbusters to beermoneyie [link] [comments]

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