7 Reasons Bitcoin Mining is Profitable and Worth It (2020)

What are the benefits of Crypto Mining?

What are the benefits of Crypto Mining?

https://preview.redd.it/q6xfuxvtmjv41.png?width=875&format=png&auto=webp&s=b092bca718f6cba3ae8c327a54952f4e65c7ed25
If you’ve ever heard the word cryptocurrency, then you’ve probably heard about the mining as well. If you still don’t know what cryptocurrency mining is and about profitable, keep reading!
In order to understand crypto mining, you need to fully understand what a cryptocurrency is first. Unlike traditional currencies (aka fiat currency), a cryptocurrency is a digital asset that works in a decentralized way; it does not require a bank or a third-party to operate. Someone can send someone else a cryptocurrency directly without any third-party involved.
The first ever cryptocurrency created was Bitcoin.
Every single cryptocurrency has a blockchain, which is an immutable digital ledger. A single transaction is recorded on the blockchain permanently, which no one can edit or delete it randomly.
A blockchain works by incentivizing miners to confirm the authenticity of each transaction. A person who confirmed the authenticity of the transaction, get the cryptocurrency as a reward.
Since the cryptocurrencies are based on cryptography, the miners need to solve extremely complicated mathematical problems to verify each transaction. They are incentivized to do it because they are rewarded for it.
Anyone can participate in mining from anywhere in the world as long as they have a computer. When the number of miners increases, it allows cryptocurrencies to be more secure. Even if an attacker would want to attack the blockchain network, somehow, an attacker needs to know 51% or more miners. Since the miners are spread around the world, this task is close to impossible and most likely not economically viable.

Types of Crypto Mining

Bitcoin was the first cryptocurrency to introduce the Proof-of-Work (PoW) consensus algorithm, where users have to solve complex mathematical problems in order to process transactions and secure the whole network.
Bitcoin was quite easy to mine at first, and you could do it with your CPU, there was no need for special equipment, and the rewards were huge. However, today, Bitcoin’s mining difficulty has increased considerably, and users need specialized and expensive equipment to mine it.
There are four main types of mining when it comes to the PoW algorithm. There is a CPU, GPU, ASIC, and Cloud mining.
The first three are essentially the same, but they use different parts of your computer. There are some cryptocurrencies specifically created to be mined only through CPU and to be ASIC resistant. Other cryptocurrencies can be mined through all three methods.
Cloud mining, on the other hand, is a process where a user basically pays to rent out a mining machine somewhere else. You don’t have to buy the equipment physically but it is wise to carry out due diligence and research into who and what you are paying for.

Proof of Stake ‘Mining’

With the introduction of the Proof-of-Stake (PoS) consensus algorithm, cryptocurrency mining changed forever. In this case, users don’t have to solve computationally intensive puzzles. In PoS-based cryptocurrencies, the creator of blocks is chosen via random selection or wealth.
Validators in the PoS consensus have to lock up some of their coins as a ‘stake’ and will get rewarded for it.
There are many benefits over the traditional PoW like lower cost and more energy efficiency. Additionally, because PoS encourages users to hold the coin in the wallet, it stabilizes the price a bit more than conventional cryptocurrencies.
Today, you can find plenty of exchanges that support staking, including the most popular exchange, Binance. The safest option, however, is always going to be staking using your own private wallet.

Proof of Formulation ‘Mining’

FLETA has developed the most innovative and newest consensus algorithms known as Proof-of-Formulation (PoF).
This PoF consensus algorithm uses something called the ‘Synchronization Group’, which allows all of the miners to mine in an orderly manner. The generating block time only takes 0.5 seconds, and the observer node checks the irregular blocks in real-time, which prevents the fork and double-spending. Furthermore, FLETA’s PoF algorithm is currently undergoing the patent process through the United States Patent Office (Application Number: 62717695).
The users can easily create a FLETA formulator through the official FLETA wallet. The minimum amount to create a single Formulator is 200,000 FLETA. The blockchain network is operated by FLETA and requires a 6-core CPU or higher.
As you created at least four Formulators, you will be able to upgrade it, which allows you to get 1.3 times more rewards.
Besides creating a Formulator, users can contribute to mining with a minimum amount of 100 FLETA.

Conclusion

Today, various mining methods exist, each with their pros and cons. However, cryptocurrency miners are still craving more convenient (and less costly) ways to earn rewards.
FLETA’s Proof-of-Formulation consensus is not only fast, but it is also highly secure the added layer of protection between observer nodes, formulator, and the synchronization group.
With plenty more to come, in terms of DApp development, games and partnerships, FLETA’s PoF is increasingly becoming the preferred consensus of many developers due to the speed, security and convenience of the platform.
**
submitted by fleta-official to fletachain [link] [comments]

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

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

Let's discuss some of the issues with Nano

Let's talk about some of Nano's biggest issues. I also made a video about this topic, available here: https://youtu.be/d9yb9ifurbg.
00:12 Spam
Issues
Potential Mitigations & Outstanding Issues
01:58 Privacy
Issues
  • Nano has no privacy. It is pseudonymous (like Bitcoin), not anonymous.
Potential Mitigations & Outstanding Issues & Outstanding Issues*
  • Second layer solutions like mixers can help, but some argue that isn't enough privacy.
  • The current protocol design + the computational overhead of privacy does not allow Nano to implement first layer privacy without compromising it's other features (fast, feeless, and scalable transactions).
02:56 Decentralization
Issues
  • Nano is currently not as decentralized as it could be. ~25% of the voting weight is held by Binance.
  • Users must choose representatives, and users don't always choose the best ones (or never choose).
Potential Mitigations & Outstanding Issues
  • Currently 4 unrelated parties (who all have a verifiable interest in keeping the network running) would have to work together to attack the network
  • Unlike Bitcoin, there is no mining or fees in Nano. This means that there is not a strong incentive for emergent centralization from profit maximization and economies of scale. We've seen this firsthand, as Nano's decentralization has increased over time.
  • Nano representative percentages are not that far off from Bitcoin mining pool percentages.
  • In Nano, voting weight can be remotely re-delegated to anyone at any time. This differs from Bitcoin, where consensus is controlled by miners and requires significant hardware investment.
  • The cost of a 51% attack scales with the market cap of Nano.
06:49 Marketing & adoption
Issues
  • The best technology doesn't always win. If no one knows about or uses Nano, it will die.
Potential Mitigations & Outstanding Issues
  • I would argue that the best technology typically does win, but it needs to be best in every way (price, speed, accessbility, etc). Nano is currently in a good place if you agree with that argument.
  • Bitcoin started small, and didn't spend money on marketing. It takes time to build a community.
  • The developers have said they will market more once the protocol is where they want it to be (v20 or v21?).
  • Community marketing initiatives have started to form organically (e.g. Twitter campaigns, YouTube ads, etc).
  • Marketing and adoption is a very difficult problem to solve, especially when you don't have first mover advantage or consistent cashflow.
08:07 Small developer fund
Issues
  • The developer fund only has 3 million NANO left (~$4MM), what happens after that?
Potential Mitigations & Outstanding Issues
  • The goal for Nano is to be an Internet RFC like TCP/IP or SMTP - development naturally slows down when the protocol is in a good place.
  • Nano development is completely open source, so anyone can participate. Multiple developers are now familiar with the Nano protocol.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
  • The developer fund was only ~5% of the supply - compare that to some of the other major cryptocurrencies.
10:08 Node incentives
Issues
  • There are no transaction fees, why would people run nodes to keep the network running?
Potential Mitigations & Outstanding Issues
  • The cost of consensus is so low in Nano that the benefits of the network itself are the incentive: decentralized money with 0 transaction fees that can be sent anywhere in the world nearly instantly. Similar to TCP/IP, email servers, and http servers. Just like Bitcoin full nodes.
  • Paying $50-$100 a month for a high-end node is a lot cheaper for merchants than paying 1-3% in total sales.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
11:58 No smart contracts
Issues
  • Nano doesn't support smart contracts.
Potential Mitigations & Outstanding Issues
  • Nano's sole goal is to be the most efficient peer-to-peer value transfer protocol possible. Adding smart contracts makes keeping Nano feeless, fast, and decentralized much more difficult.
  • Other solutions (e.g. Ethereum) exist for creating and enforcing smart contracts.
  • Code can still interact with Nano, but not on the first layer in a decentralized matter.
  • Real world smart contract adoption and usage is pretty limited at the moment, but that might not always be the case.
13:20 Price stability
Issues
  • Why would anyone accept or spend Nano if the price fluctuates so much?
  • Why wouldn't people just use a stablecoin version of Nano for sending and receiving money?
Potential Mitigations & Outstanding Issues
  • With good fiat gateways (stable, low fees, etc), you can always buy back the fiat equivalent of what you've spent.
  • The hope is that with enough adoption, people and businesses will eventually skip the fiat conversion and use Nano directly.
  • Because Nano is so fast, volatility is less of an issue. Transactions are confirmed in <10 seconds, and prices change less in that timeframe (vs 10 minutes to hours for Bitcoin).
  • Stablecoins reintroduce trust. Stable against what? Who controls the supply, and how do you get people to adopt them? What happens if the assets they're stable against fail? Nano is pure supply and demand.
  • With worldwide adoption, the market capitalization of Nano would be in the trillions. If that happens, even millions of dollars won't move the price significantly.
15:06 Deflation
Issues
  • Nano's current supply == max supply. Why would people spend Nano today if it could be worth more tomorrow?
  • What happens to principal representatives and voting weight as private keys are lost? How do you know keys are lost?
Potential Mitigations & Outstanding Issues
  • Nano is extremely divisible. 1 NANO is 1030 raw. Since there are no transaction fees, smaller and smaller amounts of Nano could be used to transact, even if the market cap reaches trillions.
  • People will always buy things they need (food, housing, etc).
  • I'm not sure what the plan is to adjust for lost keys. Probably requires more discussion.
Long-term Scalability
Issue
  • Current node software and hardware cannot handle thousands of TPS (low-end nodes fall behind at even 50 TPS).
  • The more representatives that exist, the more vote traffic is required (network bandwidth).
  • Low-end nodes currently slow down the network significantly. Principal representatives waste their resources constantly bootstrapping these weak nodes during network saturation.
Potential Mitigations & Outstanding Issues
  • Even as is, Nano can comfortably handle 50 TPS average - which is roughly the amount of transactions per day PayPal was doing in 2011 with nearly 100 million users.
  • Network bandwidth increases 50% a year.
  • There are some discussions of prioritizing bootstrapping by vote weight to limit the impact of weak nodes.
  • Since Nano uses an account balance system, pruning could drastically reduce storage requirements. You only need current state to keep the network running, not the full transaction history.
  • In the future, vote stapling could drastically reduce bandwidth usage by collecting all representative signatures up front and then only sharing that single aggregate signature.
  • Nano has no artificial protocol-based limits (e.g. block sizes or block times). It scales with hardware.
Obviously there is still a lot of work to be done in some areas, but overall I think Nano is a good place. For people that aren't Nano fans, what are your biggest concerns?
submitted by Qwahzi to CryptoCurrency [link] [comments]

What are Nano's biggest issues? Let's talk about it!

Let's talk about some of Nano's biggest issues. I also made a video about this topic, available here: https://youtu.be/d9yb9ifurbg.
00:12 Spam
Issues
Potential Mitigations & Outstanding Issues
01:58 Privacy
Issues
  • Nano has no privacy. It is pseudonymous (like Bitcoin), not anonymous.
Potential Mitigations & Outstanding Issues & Outstanding Issues*
  • Second layer solutions like mixers can help, but some argue that isn't enough privacy.
  • The current protocol design + the computational overhead of privacy does not allow Nano to implement first layer privacy without compromising it's other features (fast, feeless, and scalable transactions).
02:56 Decentralization
Issues
  • Nano is currently not as decentralized as it could be. ~25% of the voting weight is held by Binance.
  • Users must choose representatives, and users don't always choose the best ones (or never choose).
Potential Mitigations & Outstanding Issues
  • Currently 4 unrelated parties (who all have a verifiable interest in keeping the network running) would have to work together to attack the network
  • Unlike Bitcoin, there is no mining or fees in Nano. This means that there is not a strong incentive for emergent centralization from profit maximization and economies of scale. We've seen this firsthand, as Nano's decentralization has increased over time.
  • Nano representative percentages are not that far off from Bitcoin mining pool percentages.
  • In Nano, voting weight can be remotely re-delegated to anyone at any time. This differs from Bitcoin, where consensus is controlled by miners and requires significant hardware investment.
  • The cost of a 51% attack scales with the market cap of Nano.
06:49 Marketing & adoption
Issues
  • The best technology doesn't always win. If no one knows about or uses Nano, it will die.
Potential Mitigations & Outstanding Issues
  • I would argue that the best technology typically does win, but it needs to be best in every way (price, speed, accessbility, etc). Nano is currently in a good place if you agree with that argument.
  • Bitcoin started small, and didn't spend money on marketing. It takes time to build a community.
  • The developers have said they will market more once the protocol is where they want it to be (v20 or v21?).
  • Community marketing initiatives have started to form organically (e.g. Twitter campaigns, YouTube ads, etc).
  • Marketing and adoption is a very difficult problem to solve, especially when you don't have first mover advantage or consistent cashflow.
08:07 Small developer fund
Issues
  • The developer fund only has 3 million NANO left (~$4MM), what happens after that?
Potential Mitigations & Outstanding Issues
  • The goal for Nano is to be an Internet RFC like TCP/IP or SMTP - development naturally slows down when the protocol is in a good place.
  • Nano development is completely open source, so anyone can participate. Multiple developers are now familiar with the Nano protocol.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
  • The developer fund was only ~5% of the supply - compare that to some of the other major cryptocurrencies.
10:08 Node incentives
Issues
  • There are no transaction fees, why would people run nodes to keep the network running?
Potential Mitigations & Outstanding Issues
  • The cost of consensus is so low in Nano that the benefits of the network itself are the incentive: decentralized money with 0 transaction fees that can be sent anywhere in the world nearly instantly.
  • Paying $50-$100 a month for a high-end node is a lot cheaper for merchants than paying 1-3% in total sales.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
11:58 No smart contracts
Issues
  • Nano doesn't support smart contracts.
Potential Mitigations & Outstanding Issues
  • Nano's sole goal is to be the most efficient peer-to-peer value transfer protocol possible. Adding smart contracts makes keeping Nano feeless, fast, and decentralized much more difficult.
  • Other solutions (e.g. Ethereum) exist for creating and enforcing smart contracts.
  • Code can still interact with Nano, but not on the first layer in a decentralized matter.
  • Real world smart contract adoption and usage is pretty limited at the moment, but that might not always be the case.
13:20 Price stability
Issues
  • Why would anyone accept or spend Nano if the price fluctuates so much?
  • Why wouldn't people just use a stablecoin version of Nano for sending and receiving money?
Potential Mitigations & Outstanding Issues
  • With good fiat gateways (stable, low fees, etc), you can always buy back the fiat equivalent of what you've spent.
  • The hope is that with enough adoption, people and businesses will eventually skip the fiat conversion and use Nano directly.
  • Because Nano is so fast, volatility is less of an issue. Transactions are confirmed in <10 seconds, and prices change less in that timeframe (vs 10 minutes to hours for Bitcoin).
  • Stablecoins reintroduce trust. Stable against what? Who controls the supply, and how do you get people to adopt them? What happens if the assets they're stable against fail? Nano is pure supply and demand.
  • With worldwide adoption, the market capitalization of Nano would be in the trillions. If that happens, even millions of dollars won't move the price significantly.
15:06 Deflation
Issues
  • Nano's current supply == max supply. Why would people spend Nano today if it could be worth more tomorrow?
  • What happens to principal representatives and voting weight as private keys are lost? How do you know keys are lost?
Potential Mitigations & Outstanding Issues
  • Nano is extremely divisible. 1 NANO is 1030 raw. Since there are no transaction fees, smaller and smaller amounts of Nano could be used to transact, even if the market cap reaches trillions.
  • People will always buy things they need (food, housing, etc).
  • I'm not sure what the plan is to adjust for lost keys. Probably requires more discussion.
Long-term Scalability
Issue
  • Current node software and hardware cannot handle thousands of TPS (low-end nodes fall behind at even 50 TPS).
  • The more representatives that exist, the more vote traffic is required (network bandwidth).
  • Low-end nodes currently slow down the network significantly. Principal representatives waste their resources constantly bootstrapping these weak nodes during network saturation.
Potential Mitigations & Outstanding Issues
  • Even as is, Nano can comfortably handle 50 TPS average - which is roughly the amount of transactions per day PayPal was doing in 2011 with nearly 100 million users.
  • Network bandwidth increases 50% a year.
  • There are some discussions of prioritizing bootstrapping by vote weight to limit the impact of weak nodes.
  • Since Nano uses an account balance system, pruning could drastically reduce storage requirements. You only need current state to keep the network running, not the full transaction history.
  • In the future, vote stapling could drastically reduce bandwidth usage by collecting all representative signatures up front and then only sharing that single aggregate signature.
  • Nano has no artificial protocol-based limits (e.g. block sizes or block times). It scales with hardware.
submitted by Qwahzi to nanocurrency [link] [comments]

Decred Journal – August 2018

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

Development

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

Network

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

ASICs

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

Integrations

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

Adoption

Merchants:

Marketing

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

Events

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

Media

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

Community Discussions

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

Markets

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

Relevant External

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

About This Issue

This is the 5th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack.
Contributions are welcome too. Some areas are collecting content, pre-release review or translations to other languages. Check out @Richard-Red's guide how to contribute to Decred using GitHub without writing code.
Credits (Slack names, alphabetical order): bee, Haon, jazzah, Richard-Red and thedecreddigest.
submitted by jet_user to decred [link] [comments]

Nano #Ama on Binance Spanish telegram group!!

Regards!! I'm Jesús Zambrano, member of the Hispanic community of NANO for a long time. Last thursday, we had an interesting and enjoying Ask-me-anything at Binance Spanish community on telegram with the people behind NANO, Colin LeMahieu (Founder and Executive Director) and Zach Hyatt (Proyect Manager), where we take advantage of their kindness and willingness to ask them some questions and share opinions about de currency. I will share a compilation of some of the questions and answers.
-(Admin) ¡Welcome Binancians to our following AMA!
I will explain how AMA works; we will have three (3) segments.
Segment #1: I am going to ask to our guests five (5) questions and then they will answer them.
I will be explaining the rest of the segments as we conclude one of them.
-(Admin) Today we have the great pleasure of having Colin (Founder and Executive Director) and Zach (Project Manager) with us in our chat room. Could you give us a little introduction about you?
- (Zach) Hi everyone, I am Zach Hyatt, the Project Manager at the Nano Foundation and am excited to help answer questions about Nano. I live in Austin, TX where it is quite hot right now!
-(Colin) I’m Colin LeMahieu, founder of Nano. I’m a computer engineer and I’ve worked at companies like Qualcomm, Dell, and AMD. I have been working on Nano for about 5 years now and I’m really excited to talk with people who are interested as well!
-(Admin) It is a pleasure for us to have you here, I have to say that on a personal level, I have been a follower of the project for a long time now, so it is incredible for me to be able to count on you tonight, we will start with segment # 1, with the questions I have for you.
Feeless transactions and in record time! What is NANO? Can you give us an introduction to the project?
-(Colin) Nano’s goal is to solve problems with other cryptocurrencies and make sending value fast and fee-less. It has a unique design to allow us to accomplish this. We want people to have the option of using decentralized digital money instead of fiat money anywhere in the world. Nano is accessible and easy-to-use today and we plan on keeping it focused on these goals.
-(Admin) Thank you for answering my first question, I am delighted with the features offered by the project, every week they are updating and making important changes that help to improve the ecosystem that surrounds the team.
Here you can find all the weekly updates: https://nano.org/en
Previously the project was called RaiBlocks, it appeared for the first time in an ad in Bitcoin Talk in 2015. Can you tell us why a name change came up later?
-(Zach) Yeah, absolutely. Although the original RaiBlocks name has a special place in our history, it was difficult to pronounce in some areas of the world and caused confusion with certain users. We decided to move to a shorter name that not only was easy to pronounce but also reflected the fast, efficient nature of the protocol.
-(Admin) A short and quick name to pronounce, definitely NANO is perfect to define it!
My third question is the following; I had seen a very interesting gif early in the chat and it is just about the question that I came to ask.
Currently, NANO has 100% of its tokens in circulation and these tokens were distributed through Faucets, so it meant that any user with a computer could get coins simply by completing some captchas, can you tell me which has been the experience of users when using this method?
-(Colin) The faucet was a great way for us to distribute coins to people who have never used it before. Cryptocurrencies that use mining end up distributing only to people who have money to buy the mining hardware and this is unfair. We had a lot of people from Indonesia and Asia in the beginning of our distribution and at the end there were a lot of people from South America, Venezuela and Brasil that were getting most of the Nano from the faucet. We think this was a fairer way to do it and it got Nano into the hands of people in different locations, and it had a very positive impact on their lives.
-(Admin) This is incredible! thanks for your answer!
Can you tell us about what the Open Representative Vote is about and how it protects the network?
-(Zach) Nano uses voting to get confirmation on the network instead of mining and the nodes on the network that create votes are called Representatives. Open Representative Voting allows people who have a Nano balance to pick whatever representative they want to vote on their behalf. This allows the people who hold Nano to decide who generates consensus instead of mining companies. The voting process is very efficient and is a big part of what allows Nano to be fee-less and use very little energy.
-(Admin) Very good! The last question on my part:
Nano PoW is your new approach, I have read a pretty interesting example with emails, can you explain what it is about?
-(Colin) Nano PoW is a research project we’re doing in order to create a proof of work algorithm that uses less energy than other popular algorithms. Since Nano is fee-less, there must be a method to limit transactions going onto the network, which this PoW achieves. With the goal of using more memory in the process instead of CPU cycles in order to generate proofs, this new Nano PoW will help prevent ASICs from being able to cheaply send lots of transactions. It’s important for a cryptocurrency that’s used around the world to be energy efficient and green so continuing our research on this is important to us.
-(Admin) https://medium.com/nanocurrency/nano-pow-the-details-ba22a9092d6f
Thanks for your answers, Colin and Zach! I have a video, taken from your YouTube account that I would like to share with the community
https://www.youtube.com/watch?v=eh9pA8UCUrI
Can you tell me what we see in this video?
-(Colin) This is a video of how fast our transactions send and receive. You can see it takes less than 1 second to finish which means you can use it as a currency.
- (Zach) The wallet was made by developers in our amazing community, it is called Natrium. It really shows how fast Nano is and how it is easy-to-use!
-(Colin) You can also see how simple it is to use. You just scan, enter an amount, and send. There are no complicated setting which is great for new users and great for adoption.
- (Zach) And the best part is, there were no fees at all for that transaction. In fact there have never been any transaction fees on the Nano network ever!
-(Admin) Great! That's why I wanted to share it with everyone, yesterday I could try the wallet and it is really spectacular to use, thank you very much for that excellent explanation, please stay with us, now comes the part in which our users participate
Segment 3, community questions
Q -First congratulations on your project, it is amazing. Now, does nano BlockChain have another use besides making transactions?
A - (Zach) Thank you! Nano has always been focused on transfer of value and will continue to maintain that focus. The overall design is aimed at doing only this so it can remain fast, efficient and fee-less.
Q -Good evening! I understand that thanks to its architecture called "Block-lattice", each individual provides the computing power necessary to verify their own transaction, thanks to this they do not use miners to confirm transactions and they do not apply commissions of any kind. My question is: How did this occur and how difficult was it?
A - (Colin) It’s simila, transactions are validated by votes from the representatives, not by the PoW. The PoW is a way to slow down how fast people can create transactions so they can’t spam the network.
Q - Do you have any short or long term projects so that transactions using $NANO were anonymous?
A - (Colin) Long term we want to see what privacy options exist and are fast. Most privacy schemes make the transactions very big or slow to process and it’s important for things to remain quick and efficient so we can have fast transactions.
Q - We are living in Venezuela many changes in the cryptocurrency sector, the integration of crypto for service payment and product purchases is already a reality. What agreements has NANO made with service stores to integrate it as a means of payment? I want to pay my movie ticket with NANOS
A - (Zach) Thanks for your interest in Nano. We are always looking for ways to allow everyone to use Nano in as many places as possible. Although separate from our organization, we are aware of the efforts of the Nano Venezuela organization and try to support them when possible in bringing Nano to as many people and stores in Venezuela as possible.
Q - (7 questions made from one persone at once)
  1. How do you manage to make your transactions virtually instantaneous?
  2. How do they create part of the company's livelihood if no fees are charged for transactions?
  3. Why does $ NANO consume so little electricity?
  4. Requirements for a medium-sized company to adopt nano correctly as a means of payment?
  5. Since 100% of the $ NANOS are distributed, I have seen something in Medium that talked about `` Nano PoW '', could you tell me a little more about how it works? What profit will the person / institution get that puts hardware for their PoW? Will more $ NANO be created apart from those already in circulation?
  6. What do the representatives earn for putting their vote and validating blocks if 100% of the $ NANOS are already created / issued?
7- Since your policy / slogan / commandment is to be a cryptocurrency without fees, shouldn't you force exchanges in which $ NANO is present that they don't charge withdrawal fees?
A - (Colin)
  1. Transactions are fast because they’re validated by voting. The votes get transmitted around the world in milliseconds and all people have to do is count votes to confirm the transaction.
  2. We use the Dev fund to pay for developing the Nano protocol. The Nano protocol is a free tool that other people can build businesses on. We have ideas for businesses that can use fast, free money in order to help people send money to their family in other countries or pay microtransactions. It’s similar to Linux, it’s free but big companies use it because it saves them money.
  3. Nano uses little electricity because we use voting for validating transactions. Voting is just sending data over the internet which is power efficient.
  4. You can run a nano node with 40-60$/mo using cloud virtual machines
  5. Nano pow is just a more efficient way to slow people down from sending transactions to the network
  6. The most important thing is: why does a company want to use cryptocurrency? They want to use it because it saves them money on bank fees, etc. Since 40-60$/mo running a node is less expensive than their bank fees, they want to participate in the network to keep it going and save them money.
Q - Knowing all this about Nano, could you say that Nano is one of the most energy-efficient, Ecological friendly currencies in existence?
A -(Zach) Absolutely. We care about making a positive change in the world and so pride ourselves on leaving as little energy trace possible in the world. It may just be the fastest, most efficient transfer of value available.
Q - If the nano protocol had not passed the Red4Sec signature security test, would it have any vulnerability today?
A - (Colin) The Red4Sec audit didn’t find any critiral vulnerabilities in Nano. In fact they did the audit twice because they couldn’t find anything wrong and that never happened before.
It’s important for us to keep the code high quality and we will do audits again in the future because it’s important to make sure everything is secure.
Q - I'd like to see more development of Nano by using SMS on our phones to avoid the problem of no Internet connection at the moment
A -(Zach) As much as we like the idea of SMS, unfortunately it is not a secure network so managing Nano transactions over it brings some unique requirements. However we are always innovating and trying to make Nano as easy and accessible as possible so hope advances can help over time make it more accessible in this area.
Q - What plans do you have to close this 2019 to increase adoption in Latin America?
A -(Colin) We are very excited about the passion we see in the south american community. We would love to make it down to VE however in the mean time follow nanoVE for updates and meetups - there may be one near you soon!
Q - How will you make the adoption and use of $ NANO continue to increase especially in markets where other cryptocurrencies are gaining more ground?
A - (Colin) Our focus is to build tools people need to accept cryptocurrency. Right now it’s still difficulty and expensive. One thing we’re making is the device Appia which can accept cryptocurrency similar to a credit card. We made this device very inexpensive and can connect over wireless so it can be used in markets or resturaunts or other places cryptocurrency is not yet available.
- (Admin) Thank you very much for your answers! You are the first guests that answer all the questions of our users, you are amazing guys!
@AndyNano It was amazing to meet you, I learned a lot from you
@FundacionNanoVE Thanks for making this happen! excellent work
@nano_isam Thanks for everything buddy!
-(Zach) Can we ask a question to the channel?
What are the top things Nano can do to help you in your daily lives?
-(Colin) My question: How do you store cryptocurrency safely? Where do you back up your seed so it isn’t lost or stolen?
A - In Venezuela we currently have a problem with conventional payment processors, they are very slow, it would be great to be able to see people using NANO to make their purchases at any store in Venezuela, 0 commissions and instant transactions, is what we need
A - Fast transactions are what can help society the most, and except that, the best thing is that it is very cheap ... from there it is addition, those are the main characteristics that we look for the most
A - encrypted file in a pendrive
A - Nano is a direct competition to the vast majority of Cryptos, in transaction speed and that it is literally free to send or receive, nothing to wait for 5 hours or the next day when you pay for items or services with Crypto, let's increase the adoption of nano!
-(Colin) Question: Are there barriers to using Nano in your country right now?
A - No barriers in Venezuela
A - No barrier what is lacking is greater diffusion in means to give greater projection and that the adoption arrives. Here I am to support NANO!
A - There should be no barriers to the payments we wish to make, freedom above all
-(Colin) Fantastic!
- (Zach) Thanks everyone, I have to go but I appreciate all the awesome questions and answers!
submitted by AlejandroZD58 to nanocurrency [link] [comments]

Transcript of Open Developer Meeting In Discord - 5/10/2019

[Dev-Happy] Blondfrogs05/10/2019
Channel should be open now
Chill05/10/2019
you all rock!
just getting that out of the way :wink:
Tron05/10/2019
Cheers everyone.
theking05/10/2019
Hi fabulous dev team!
Hans_Schmidt05/10/2019
Howdy!
Tron05/10/2019
No specific agenda today.
Questions?
Has everyone seen Zelcore wallet, and Spend app?
theDopeMedic05/10/2019
Any major development status updates that haven't been listed in #news?
Synicide05/10/2019
How was the meetup yesterday? I heard it would be recorded, it is uploaded anywhere yet?
Tron05/10/2019
And Trezor support on Mango Farm assets?
@Synicide Yes it was recorded. The Bitcoin meetup organizer has the video.
I talked about Ravencoin, but mostly about the stuff that was being built on/with/for Ravencoin.
There was about 70% overlap with folks who were at the Ravencoin meetup in March.
Synicide05/10/2019
awesome, looking forward to watching it when it's available
Tron05/10/2019
I'll hit up James and see if he's posting the video.
S1LVA | GetRavencoin.org05/10/2019
@theDopeMedic I'd follow github if youre interested in development status
Synicide05/10/2019
zelcore looks super slick. Been meaning to research its security more with the username/pw being stored on device
Chill05/10/2019
How is the progress on the restricted assets and testnet coming along? A secondary question would be about the approximate fork timeframe.
S1LVA | GetRavencoin.org05/10/2019
Has anyone heard from the community dev (BW) working on Dividends?
Rikki RATTOE Sr. SEC Impresantor05/10/2019
Any word on BW and his progress w dividends?
@S1LVA | GetRavencoin.org LOL
Tron05/10/2019
@S1LVA | GetRavencoin.org Great question. I haven't heard.
Synicide05/10/2019
last meeting BlondFrogs said he would try to connect with BW as he was sick with the flu at the time. Maybe he has an update
S1LVA | GetRavencoin.org05/10/2019
I've tried to get in contact, but with no success.
Rikki RATTOE Sr. SEC Impresantor05/10/2019
Got a funny feeling...
Jeroz05/10/2019
Last time we left off with someone mentioning a foundation and Tron saying let’s discuss that next time iirc
kryptoshi05/10/2019
Has anyone taken a look at the merits for this proposal? Thoughts? https://medium.com/systems-nexus/modified-x16r-algorithm-proposal-for-constant-hash-rate-in-short-time-164711dd9044
Medium
Modified X16R algorithm proposal for constant hash rate in short time
Interpretation Lens V. a0.01
Tron05/10/2019
I did see it. Does anyone think this is a problem?
Synicide05/10/2019
It looks interesting... but I'm not sure what it is trying to solve. Looking at netstats, our 1 hour average block time is perfectly 1 minute
S1LVA | GetRavencoin.org05/10/2019
Last I heard from him he expressed how important finishing the code was. I wouldnt jump to conclusions on his absence within the community.
Synicide05/10/2019
x16r by nature will fluctuate, but DGW seems to be doing a good job keeping consistent block times
Tron05/10/2019
Because of relatively broad distribution across the algorithms, the block times are fairly consistent. It is possible, but very, very unlikely to get a sequence that takes up to 4x longer, but that's super rare, and only 4 minutes.
We did some timing analysis of the algorithms early on. A few are 1/2 as long as SHA-256 and some are up to 4x longer. But when you randomly select 16 it usually comes out about even.
Synicide05/10/2019
1hr avg: 1.02min - 24hr avg: 1min
I think we should focus on building, and not trying to fix what isnt necessarily broken
Tron05/10/2019
Agreed.
Rikki RATTOE Sr. SEC Impresantor05/10/2019
Agreed
Tron05/10/2019
Is everyone ok with the frequency (every other week) of this discussion?
Jeroz05/10/2019
(Added thumbs down to measure)
Tron05/10/2019
@Jeroz Did you do thumbs-up and thumbs down?
S1LVA | GetRavencoin.org05/10/2019
Seems appropriate. Its not like the devs dont poke around here and chat anyways.
Tron05/10/2019
Anything critical that we should be aware of?
Jeroz05/10/2019
When I need a dev, I poke a dev. When that dev is unavailable. I poke another one :smiley:
Hans_Schmidt05/10/2019
BlondFrogs was testing some github code last month to create a dividends snapshot database of asset holders at a given blockheight. Is that planned for inclusion? That's the only thing needed for dividends.
Jeroz05/10/2019
I hope I didn’t offend any devs
With poking around
Rikki RATTOE Sr. SEC Impresantor05/10/2019
Was thinking voting would be an excellent use case for restricted assets. Local communities, nations, etc... could kyc their residents
radiodub05/10/2019
Is x16r will remain fpga mineable
Tron05/10/2019
@Jeroz We're hard to offend.
Chill05/10/2019
Is the general dev feeling that the next fork should and will include everything needed for the next 6-9 months (barring something completely unforeseen)?
Jeroz05/10/2019
I know :smile:
Tron05/10/2019
@radiodub Nearly impossible to stop FPGAs and still keep GPUs
Jeroz05/10/2019
About that: voting is another hard fork right? Not too soon?
Tron05/10/2019
FPGAs can be reprogrammed as fast. It is silicon (true ASIC) that we can obsolete with a tiny change.
@Jeroz Messaging, voting, Tags, Restricted Assets would require a hard fork (upgrade).
We could do them each individually, but folks get weary of upgrades, so current plan is to roll them together into one.
MrFanelli™05/10/2019
Good idea
Jeroz05/10/2019
Oh voting too?
MrFanelli™05/10/2019
People will like that
Jeroz05/10/2019
I thought that was coming later
Tron05/10/2019
Voting is the one that isn't being worked on now. Tags and Restricted assets have taken precedence.
Jeroz05/10/2019
I know. But you plan on waiting to fork until voting is also done?
That would have my preference tbh
But I can see an issue with too many things at the same time
Tron05/10/2019
If someone wants to step in, we've had one of our devs sidelined and he was working on BlockBook support so more light wallets can connect to Ravencoin. Mostly test cases needed at this point.
S1LVA | GetRavencoin.org05/10/2019
Thats a pretty large upgrade.. Bigger surface for unknowns
Rikki RATTOE Sr. SEC Impresantor05/10/2019
At what point would RVN community consider moving to ASICs because having a Bitcoin level of security would eventually be needed?
MrFanelli™05/10/2019
Never rikki
Tron05/10/2019
@S1LVA | GetRavencoin.org 100% Lots of testing on testnet and bounties.
[Dev-Happy] Blondfrogs05/10/2019
I am here :smiley:
Tron05/10/2019
@Rikki RATTOE Sr. SEC Impresantor There's nothing inherently wrong with ASICs but it tends to centralize to data centers and less opportunity for anyone to just run their gaming rig overnight and collect RVN.
Welcome Blondfrogs
MrFanelli™05/10/2019
Asics are too expensive. If we want normal people to mine, then we cant be an asic network
Rikki RATTOE Sr. SEC Impresantor05/10/2019
@Tron True but what happens when the chain needs a Bitcoin level of protection?
Tron05/10/2019
More GPUs, more FPGAs
MrFanelli™05/10/2019
Nvidia loves ravencoin :stuck_out_tongue:
Chill05/10/2019
ok, so we are pro FPGAs
𝕿𝖍𝖊 𝕯𝖔𝖓 𝕳𝖆𝖗𝖎𝖘𝖙𝖔 CEO ∞05/10/2019
Build it and they will come
Tron05/10/2019
It's all relative. It is cost to attack. If an ASIC isn't available for rent, then only option is rental of non-allocated GPUs
Rikki RATTOE Sr. SEC Impresantor05/10/2019
@Chill Eventually everyone will need FPGAs to be profitable on RVN, at that point I don't see why we just don't make the switch to ASICs
Tron05/10/2019
Also, as much as we don't focus on price, the price does matter because it determines the amount of electricity and hardware will be deployed to get the block reward. Price increase means more security, more mining means more security means higher price.
It's a circle.
Chill05/10/2019
someone tell that to the twitter handler
HailKira05/10/2019
you guys adding seedphrase to desktop wallet?
[Dev-Happy] Blondfrogs05/10/2019
@HailKira We will, just is not a high priority right now.
MrFanelli™05/10/2019
Twitter handle wants rvn ded
Rikki RATTOE Sr. SEC Impresantor05/10/2019
I just don't see much difference between ASIC and FPGA and I'd rather have the added nethash an ASIC will provide once GPUs are virtually kicked off the network
kryptoshi05/10/2019
I'm at 11 GB future proof
Tron05/10/2019
That also limits miners to big money, not gaming rigs.
Synicide05/10/2019
@Rikki RATTOE Sr. SEC Impresantor you have to keep in mind the 'added nethash' is all relative
Rikki RATTOE Sr. SEC Impresantor05/10/2019
FPGAs will limit miners to big $$$ too IMO
Tron05/10/2019
@kryptoshi New algo x16r-12G requires 12GB :frowning:
Seal <:cricat:> Clubber05/10/2019
But sperating smaller gb cards would lead to less adoption if we ever become a mainstream coin.
Adpotion of mining that is
Chill05/10/2019
but we are a mainstream coin
Seal <:cricat:> Clubber05/10/2019
Mains stream as in what eth did
Tron05/10/2019
@Rikki RATTOE Sr. SEC Impresantor I agree. Not a perfect solution.
Steelers05/10/2019
Is this a Dev meeting or Algo meeting :smiley:
Seal <:cricat:> Clubber05/10/2019
But if we ever go mem lane. We should aim for 6 or 8gb.
Tron05/10/2019
Open to other questions.
Rikki RATTOE Sr. SEC Impresantor05/10/2019
@Tron Probably not the time and the place to have this discussion as we stand currently but IMO we're gonna have this conversation for real eventually
Seal <:cricat:> Clubber05/10/2019
Most cards have 6gb now.
kryptoshi05/10/2019
Why 12 gb ? Such a massive jump
Seal <:cricat:> Clubber05/10/2019
^
Would also like to know
Tron05/10/2019
@kryptoshi I was joking. You said you had 11GB card.
Seal <:cricat:> Clubber05/10/2019
Haha
You got em good
I cant imaghine the face he had when he was 1gb short
Lel
Rikki RATTOE Sr. SEC Impresantor05/10/2019
That's what she said
kryptoshi05/10/2019
Hahaha
MrFanelli™05/10/2019
need a 2080ti
Seal <:cricat:> Clubber05/10/2019
How much does the VII have?
16?
[Dev-Happy] Blondfrogs05/10/2019
Any other questions you have for us?
Hans_Schmidt05/10/2019
@[Dev-Happy] Blondfrogs You were testing some github code last month to create a dividends snapshot database of asset holders at a given blockheight. Is that planned for inclusion? That's the only thing needed for dividends.
Chill05/10/2019
a dev might want to contact Crypto Chico for some 'splaining
[Dev-Happy] Blondfrogs05/10/2019
I still haven't contacted the developer that was working on dividends. Was pretty busy with some other stuff. I will contact him this next week, and see where we are at for that.
Rikki RATTOE Sr. SEC Impresantor05/10/2019
Chico doesn't do interviews, shame. Tron would be a much needed interview for his community
[Dev-Happy] Blondfrogs05/10/2019
As far as releasing dividends, I can be released at anytime the code is finished and doesn't require any voting or hardfork to occur
kryptoshi05/10/2019
Android asset aware wallet?
Seal <:cricat:> Clubber05/10/2019
Is in beta right
Tron05/10/2019
Testing went well today on Android. Nearing release.
[Dev-Happy] Blondfrogs05/10/2019
as it is a mechanism that is wallet specific
liqdmetal05/10/2019
no protocol level dividends you guys are saying?
[Dev-Happy] Blondfrogs05/10/2019
correct
Tron05/10/2019
DM me if you want to test Android with Asset support. I'll send you the .APK.
Rikki RATTOE Sr. SEC Impresantor05/10/2019
RVN gonna be on tZero wallet? :yum:
liqdmetal05/10/2019
why not? what is the logic on non-protocol dividends
assets + protocol dividends is nirvana
[Dev-Happy] Blondfrogs05/10/2019
dividends is pretty much sending payments to addresses. Right now, you would have to do this manually. The dividends code, will allow this to be done quicker and easier.
No consensus changes are required.
Tron05/10/2019
New Android wallet is BIP44 and original Android wallet is BIP32/BIP39 so the words will not find the funds. You'll need to send them to another wallet, and then send them to new BIP44 derived address.
liqdmetal05/10/2019
we already have payments to addresses
so dividends is not a feature so much as simple wallet script
Hans_Schmidt05/10/2019
@[Dev-Happy] Blondfrogs The dividend code changes look risky'er to me than messaging. Would you consider "tags" branch test-ready?
[Dev-Happy] Blondfrogs05/10/2019
Not yet @Hans_Schmidt
Dividends is easier then you would think if coded correctly. I still haven't seen the code from the community developer. Excited to view it though.
Hans_Schmidt05/10/2019
@[Dev-Happy] Blondfrogs Sorry- I meant restricted, not dividend
kryptoshi05/10/2019
@Tron on the Android wallet, anyone successfully added their own node and got it to sync faster? Always have issues. I have a supped up node and cannot get it to work with the Android wallet...
[Dev-Happy] Blondfrogs05/10/2019
@Hans_Schmidt Oh, that makes more sense. Yes, they are very risky! That is why we are going to create a new bug bounty program for restricted assets testing.
Rikki RATTOE Sr. SEC Impresantor05/10/2019
Once the network does get flooded w FPGAs, should we even consider changing the algo a couple times a year? That would only give bitstream developers added time to hoard their creations for themselves
Kind of like they're already doing with their x16r bitstreams :yum:
kryptoshi05/10/2019
Flooded... lol... like that hardware has mass production scale like gpus...come on dude
MrFanelli™05/10/2019
Bip44 wallet? :smiley:
Rikki RATTOE Sr. SEC Impresantor05/10/2019
@kryptoshi Eventually yes, where there's $$$ to be made, people make things happen
MrFanelli™05/10/2019
So can we trade from that in the new Binance Dex when RVN get listed?
kryptoshi05/10/2019
@Rikki RATTOE Sr. SEC Impresantor Yes Soon TM lol. :soontm:
Tron05/10/2019
@kryptoshi There are some things we can do to speed it up. For a new wallet, it shouldn't need to sync. For recovered wallet, it needs to sync from beginning of BIP44 wallet support on iOS so words can be moved between the two.
Other options include grabbing the first derived address and looking it up on an explorer to see when it was first used and sync from there.
Another option is to add an optional number with the 12 words so it knows when to start syncing.
There isn't a good reason on an SPV wallet to sync before the seed was created.
kryptoshi05/10/2019
Cool. Glad you are looking at speedup options.. :right_facing_fist: :left_facing_fist:
[Dev-Happy] Blondfrogs05/10/2019
@MrFanelli™ If the binance dex support RVN deposits. I am sure you would be able to send from it
MrFanelli™05/10/2019
Has binance reached out for any info or anything?
I seen that we ranked in some voting competition they had on twitter
for an ama
Rikki RATTOE Sr. SEC Impresantor05/10/2019
I believe we'll need to create a fund of approximately $300,000 in order to get a BNB-RVN asset created and listed on the Binance FDEX
[Dev-Happy] Blondfrogs05/10/2019
In order to work with binance we need Ravencoin integrated into Blockbook.
Tron05/10/2019
@MrFanelli™ I've reached back out to Binance on the AMA.
MrFanelli™05/10/2019
Awesome :smile:
kryptoshi05/10/2019
@Tron you are a natural on the interviews... cool as a cucumber. :sunglasses:
Tron05/10/2019
Thanks @kryptoshi
[Dev-Happy] Blondfrogs05/10/2019
Cool. We are done for today.
Please don't ask us any more questions :smiley:
Tron05/10/2019
Thanks everyone!!!!
[Dev-Happy] Blondfrogs05/10/2019
Cya everyone!!
S1LVA | GetRavencoin.org05/10/2019
Cya happy feet, Thanks
Thanks Tron
Seal <:cricat:> Clubber05/10/2019
:bepbep:
submitted by mrderrik to Ravencoin [link] [comments]

Dec 24 Strategy: BURST, ICX, XVG, XEM, STRAT, ARDR, MCO, PAY, BAY, WAVES, NXT, ICO Strategy and CB Picks for January

Recap for Today Dec 24: ICO Picks (Detailed Later), Coins Picks: BURST (December 27th Dymaxion launch), ICX(Mainnet launch), XVG(Wraith Protocol goes live this week), XEM(Core 1.0 release by Jan 1), STRAT (ICO platform goes live this week with 2 Flagship ICOs), ARDR(goes live Jan 1st), NXT(airdrop in 4 days), MCO, NXT, PAY, BAY, WAVES (airdrop confirmed by WAVES twitter to WCT AND WAVES holders)
For tips and strategy hours before being posted to the message boards follow on Reddit, Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/JfkWfUy (join group to reach me directly and see posts early!) Remember in trading minutes matter, hours are eternities.
BURST is about to do just that. BURST onto the scene. They have their Dymaxion launch this week and their mining platform should revolutionize blockchain tech. BURST uses free memory space instead of CPU, GPU, and ASIC miners using literally less then 0.025% of the electricity when compared to BTC’s mining algorithm. BTC mining uses more electricity than many small nations and BURST will provide an ability to mine at a very low cost while still having a tradable coin for exchanges. I expect this week (their release is the 27th), particularly the next 72 hours to see the biggest BURST gains to date, while leading volume on Bittrex.
NXT (will be in each post until the airdrop, and it went from $.7 when recommended to $1.80ish), with the future value of airdrop priced this should trend toward $2.00. As I’m writing this I see it’s spiked over $1.60. That is almost 100% gains in 72 hours, I’ve been screaming to buy NXT in all of my prior posts. Today it popped, it should continue to trend toward $2.00. I just did the math on the IGNIS airdrop, the IGNIS has increased to $4.02 in value, meaning NXT should be worth a minimum of $2.00, a penny more for every penny NXT is worth following the airdrop, price point $2.00-$3.00 depending on if IGNIS continues to appreciates or not.
Technology: Nothing really creates 100% gains (or more) in the Crypto Markets better than technological block chain advances. This is the week’s leaders for this category…
ICX is the addition for today! Their Mainnet goes live by the end of December which means any day now there will be that 100% pop everyone dreams of. Leading up to that we should receive the hype and anticipation boost on a daily basis. I expect ICX to rally 10% daily until the Mainnet announcement is made with a 100% gains the day of going live!
XVG, VERGE WRAITH PROTCOL (XVG promises this to come out by end of year, plus a very impressive ad came out 4 days ago so I doubt they miss their deadline) anonymity with the flick of a button (public and private ledges in one block chain). XVG has promised WRAITH will be released by the end of this year, it should hit $1 when it does, McAfee although I don’t agree w/him on much he says, states a $15 price target within 6 months of Wraith Protocol being released. I’m saying $1.00 it’s currently $.25 that’s a 400% upswing if I’m right, 4000% if McAfee is. Does it matter really who is at that point? Wraith allows the individual user to determine if they want they balance visible on the block chain or not. Right now we have coins like Monero which are completely anonymous hence their use on the dark web, or ones that are completely public where anyone who knows your wallet address can check your balance. XVG lets each user determine, public or private, this will revolutionize blockchian and altcoins. If you want to see the impressive link for the Wraith ad: https://youtu.be/dMrk6rozbJg An article was written today by Bitcoinist highly favorable of Verge Wraith will make the coin value explode: http://bitcoinist.com/verge-next-bitcoin/
XEM Catapult, which is version 2.0 of NEM (is to be released by the end of the year). Plus a 4 week hackathon beginning in January. There is nothing better to build awareness and test out their new Catapult network they’ll be releasing this week, then a worldwide hackathon and a new update to their NEM network.
STRAT, is going to have an amazing week. They promised that by Jauary, "I can confirm they will be able to host ICO's on our blockchain agnostic platform this year." STRAT is on the cusp of being able to host ICO’s for other companies. This is extremely valuable technology and they’ve announced it will be ready to go this week. They’ve also announced 2 Flagship ICOs that will be available on their STRATIS network. The platform to host ICOs goes live this week, and within 2 weeks we find out which ICOs STRAT is hosting. This should be a very positive 2 weeks for STRAT.
ARDR, Platform launches Jan 1. Ardor’s blockchain becomes fully operational Jan 1st. Genesis snapshot announced 1 week in advance. Not to mention all those NXT you’ve been holding for the free IGNIS are used specifically on the ARDR block chain. ARDR should continue to trend upward with NXT and IGNIS leading up to the airdrop.
CB Future Picks (same screenshot that showed BCC showed XRP and Monero). CB admits new coins will be added in the next few months. It was speculated in the online community that because CB released wallets for BCC, XRP, and Monero that those would be added next. CB adamantly denies that they planned to add BCC, XRP, and Monero. And then CB added BCC. I fully expect XRP and Monero to be added within 2 months, and that the original rumor they denied had some truth to it. XRP and Monero are buy and holds.
MCO, has promised 3 surprises and a Christmas bonus. According to MCO, "We have something special planned for all of you for December 25th and we think you will love it." Their news cards are supposed to be released soon, maybe their debit cards (allowing you to exchange crypto for FIAT instantly) are ready! Check them out online they look GORGEOUS. I have already placed orders for 3/5 of the available ones and I’m #4000+ I expect MCO to start rolling these cards out, there is absurd demand for them. With news tomorrow and a working product this month this coin should skyrocket.
PAY & BAY (News and Surprises), Both have promised news on the 25th and given its Christmas I expect the announcements to be spectacular ones. Both have deadlines approaching for projects and I expect the announcements to either be completed projects ahead of deadlines or exciting new partnerships. Christmas is 24hrs away if there was a time to get in on PAY and BAY it would be prior to the Christmas surprises.
WAVES has confirmed both WAVES holders and WCT holders will receive their airdrop at the end of the month. The promotion running on Binance provides reason to buy and hold instead of selling at different points. The founder is also speaking on Christmas via Youtube live stream, airdrops January 1, and presence at the Miami Blockchain event the 2nd week of January. Waves is a good buy and hold, or pick it up as you sell out of the tech coins that will have their pop this week.
ICOS I Like:
I've had a lot of messages regarding ICOs I like and I wanted to publicly state which ones I have faith in currently. There are 100s with little to no value, with poor teams, unnecessary coins, etc. If you've seen my picks this week I do extensive research (Verge and NXT I called before 100% climbs). The below 2 are the only ICOs I found for all of December that I believe can beat the average return of altcoins for January. ICOS I Like: Crypterium- The team is unreal and they are presenting at the Dubai Blockchain Intl’ in January. The bonus period ends in 2 days so I highly recommend getting an ether or 2 involved in this. The Dubai Blockchain Intl’ will greatly increase the number of individuals interested in holding Crypterium, (I make $0 off my posts and extensive research if you do purchase the ICOs please use my referral link): https://tokensale.crypterium.io/?ref=4a5381543424516aa2b4e3a6
INS: The INS token sales ends the 25th, so this is literally the last opportunity you have to get involved. It is almost impossible to find an ICO with a functioning platform, profitable, a connected strong team, positive partnerships that is still in the ICO stage. INS has advertising $ as I’ve seen them on social media, and they are still in ICO stage. I believe INS and Crypterium will be the biggest ICOs of the month by a long shot. Please use the below referral link to take advantage of the token sale! https://tokensale.ins.world/?ref=25c5513c4272d53be4470133
I do all this research for free, if you wouldn't mind using my referral links to sign up for Binance (exchange) or the ICOs, Crypterium and INS it'd truly be giving something back to me! Binance: https://www.binance.com/?ref=15316928The Crypterium ICO bonus ends very soon, the INS ICO ends entirely tomorrow. Crypterium: https://tokensale.crypterium.io/?ref=4a5381543424516aa2b4e3a6 and INS: https://tokensale.ins.world/?ref=25c5513c4272d53be4470133 . . . Thank you!
THESE ARE SOLELY STRATEGIES I USE IN THE CRYPTOCURRENCY MARKETS BY NO MEANS AM I TRYING TO PROVIDE INVESTMENT ADVICE. I DO OWN SOME OF THE LISTED CURRENCIES FOR THE REASONS I’VE STATED.
submitted by JakeTheCryptoKing to u/JakeTheCryptoKing [link] [comments]

Bytecoin: The sleeping Giant

You know the friend a little 'silent, the one who likes to remain silent, the average was thin and shy but all of a sudden you see him six or seven years later finding him beautiful, athletic and self-confident? Here, that friend there is the Bytecoin and later you will understand better why ...
PREMISE: Currently, in a market so inclined to the maneuverability put in place by some users or organized bodies called "whales" more commonly, able to exploit the low total capitalization and the huge amount of money in their possession, we have been able to see the power of information also deliberately diverted for remuneration, to generate the right FUD or FOMO in order to profit by anticipating market trends. The purpose of the following article is not to give a financial advice, but to give readers the opportunity to have a broader view of the current scenario so as not to be easily influenced by market trends and circulating fake news basing their own chosen exclusively on their reasoning.
Let's start with a brief "historical" sign that we need to better understand what will come later. Bytecoin (BCN) was born in 2012 with deep fractures within the DEVteam that gave birth without arousing some kind of enthusiasm so much that since its birth, the protocol was forked several times giving rise to countless currencies based on the same algorithm. One of them was Monero, one of the most appreciated privacy coin together with Dash, Zcash.
Slowly the interest around the BCN project was extinguished in favor of the competition and for a few years Bytecoin went through a placid dormant phase in which the most incompetent and alleged "crypto trader" accused the project in several ways, knowing that the NCB it was a giant sleeper and it was better to remove it as soon as possible .... or at least they tried it; a giant is always better to bury him in which case he would wake up bringing problems for everyone and unfortunately for them, this just happened. With the new development team, Bytecoin started its own awakening, slow but steady. He began to attract investors, to collect consents and one step at a time he came to settle permanently in the Top 30 of Coin Market Cap, a first signal that perhaps the detractors have not been able to grasp, or have not taken seriously ... worse for their! Bytecoin users have been trying to push so many tokens "burned" all the time, but the team, focusing on the development of a blockchain and a wallet more powerful and reliable as well as on present and future partnerships, has always categorically opposed and later we will understand why. As I said the DevTeam has continued to tighten agreements, release material and update the technology at the base of the project and this inevitably led some big exchanges to sniff out the INCREDIBLE earning potential. A few weeks ago a well-known Chinese company, leader in the mining sector, declared the release of the first ASIC able to undermine the cryptonight protocol. Among the general rejection by the currencies based on the aforementioned protocol, one remained silent once again letting the others say first what they thought and in the meantime the others rushed to the shelters by modifying the protocol in order to limit the functioning of the ASIC in the extraction process and masking this choice behind sudden and frankly ridiculous actions in favor of the community; Bytecoin instead, welcomed this news and supported the arrival of ASIC on its network. A few days later, "strangely", Bytecoin was listed on the largest exchange in the world BINANCE with a price explosion that saw him reach to reach 0.20% share ... coincidences it? The peculiarity of this coincidence lies not only in the fact that both the mining company ASIC and Binance are in China, but also that the BCN Blockchain is "apparently" collapsed not being "apparently" ... able to withstand the traffic generated . After a few days of confusion, the DEVteam worked to restore the Blockchain and release several updates to make this happen. After a week the price of the money settled on figures more in line with other exchanges and the situation returned to normal. Too bad that the competitors, who had worked so hard to throw mud on the project, had realized that the "sleeping giant" had woken up completely and while they were struggling to prevent the project from becoming usable and profitable for others as well as for them (see magic walls with disproportionate quantities appeared out of nowhere and vanishing), the Bytecoin project was strengthened and the currency had ended in the eyes of the world, thus attracting the interest of big investors and showing them a small part of its huge potential.
But the worst for the other privacy coin had not yet arrived ... Oh yeah! In parallel with the listing of BCN on Binance, Japan disclosed a list containing the best cryptocurrencies available on the market, recommending it to its investors and this list also included Bytecoin. A few days later however, Japan itself stated that the currencies based on the Cryptonight / Cryptonote algorithm as well as the other privacy coins were bad for the country by divulging the news that soon XMR together with DASH and ZCASH could have been delayed by many exchanges. In the list, however, Bytecoin did not appear continuing to remain the only currency based on that algorithm and with these peculiarities listed in the special list recommended by Japan. So many coincidences make a clue, many clues do a test would say ... Bytecoin is one step to become THE ONLY private currency used based on the Cryptonight algorithm and the blockchain test can be used to understand how many transactions succeeded in hold up and how many volumes he could manage. As a result, the team has resumed work on the new blockchain and soft fork, the huge amount of coins available will remain such because of the simple fact that will serve to cover the coin supply of competitors. Bytecoin has started its climb towards the monopoly of the Cryptonight algorithm and will soon replace all other competing currencies in the privacy markets. The price of now is a further confirmation as those who would not enter a project similar to these figures with the possibility of future gain that is expected? Simply connect the dots to the conclusion that Bytecoin will compensate for the purpose for which Bitcoin was born, not as a potential for growth in value or as ambition and quality of the project but as a use in everyday life. "The Sleeping Giant woke up and started climbing to the summit!" Observed the context in which it is moving Bytecoin and overflown on the technical features of the cryptonote protocol that you can read in several articles about it, let's come to the point on what might be one of the reasons why you are here, the price prediction. Given that no one can have the truth in his pocket, let alone think about it and draw some conclusions on the basis of concrete data. The motto "When Lambo?" And "When Moon?" Which are especially popular on the Telegram channel is also accompanied by "When 1 $?" And perhaps its users are not entirely wrong .... Bytecoin is therefore born with the intent to lend itself as a coin that can be spent in everyday life and this can already be seen from its roadmap which in the previous version was shown as follows:
Bytecoin Roadmap 2018
As you can see, the main focus concerns the markets and the circuit that will allow the issuance of a rechargeable credit card that will allow to spend their NCBs in all affiliated stores and that will make agreements with the team in the future. In order to make up for the purpose, a coin must be coined in large numbers and that is why you will have 184.47 million BCN circulating, of which 99.699% has already been mined. Other peculiarities that must have the coin to work, are the stability and a price easily identifiable by both the buyer and the seller. Unlikely after the "pizza day", a consumer would use a currency with high volatility or that constantly requires a calculator and a converter under the hand to be spent. The same goes for the shopkeepers, being paid X and seeing the profit go down is not one of the best hypotheses. Even the future possibility and already put in the pipeline to run projects on its own Blockchain would benefit from price stability. Companies wishing to let their projects run on the Bytecoin network have the same needs as a retailer to monitor their revenues without excessive price fluctuations, whether good or bad. If we add to this the peculiarity of BCN which is "anonymity", we can observe how the catchment area widens considerably adding to the simple consumers, a whole group of individuals who need this feature to protect their savings and that surely will be the crumbs owned by most of us. To this category are added all those who in the course of the regulations will suffer the ban of their countries, you can not take away what you are not able to CHECK! *** So, according to my humble opinion, the coveted price of $ 1 is a goal that can be reached in the medium term and can be satisfied when all the pieces are in place on the roadmap. *** The above may seem obvious and obvious now but you can see that this is not a summary of what has happened so far with data that objectively, each of you can go to check on the history. If you think instead that the tone is a bit 'too much conspiracy, you can always look elsewhere with the certainty that in the future we will have the opportunity to be able to compare again. To all the owners of Bytecoin I make the most heartfelt congratulations for the tenacity that will repay them when the picture is complete and I hope for them that they do not get lost in the waves of the market caused by the dreaded whales. Good Work DEV and best wishes !!!
submitted by JonnyIlMago to BytecoinBCN [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Is mining Bitcoin profitable? Basic economics of cryptocurrency mining (Excel) Is Altcoin ASIC Mining Profitable? 21 days of crypto mining profits! Should YOU be GPU MINING Cryptocurrency in 2020?! - YouTube Is Mining Bitcoin Profitable late 2019 ASIC Is Mining Bitcoin Still Profitable in 2020? - YouTube By Far The BEST Bitcoin Mining Software In 2020 💸Profitable💸 Are USB Bitcoin Miners Profitable RIGHT NOW In 2020? - YouTube Is Cryptocurrency Mining Profitable In 2019? GPU vs ASIC ... Is Bitcoin (BTC) mining worth it Dec. 2018? BTC mining ASICs

ASIC financing has helped drive Bitcoin's hashrate to all-time highs in 2020. Consequently, Bitcoin mining is less proftable to mine than ever. Bitcoin mining can still make sense and be profitable for some individuals. Equipment is more easily obtained, although competitive ASICs cost anywhere from a few hundred dollars up to about ... ASIC Mining: Relevant? Profitable? How`s it Going in 2018. The future of mining of many leading cryptocurrencies is rather uncertain in the long term. As the number of Bitcoin users increases and as more coins are produced, mining becomes more complex and expensive. In addition, Bitcoin's architecture provides a gradual reduction in the reward for each generated block. Ten years ago miners ... Over the last year, cryptocurrencies have lost a lot of value yet bitcoin miners continue to process transactions and earn block rewards. A bunch of new The top mining devices that process between ... Bitcoin mining profitability is in the basement, seeing all-time lows in 2020. Conversely, Bitcoin’s hashrate has surged throughout 2020, propelled in part by mining farms financing new hardware to boost their operations. Bitcoin’s hashrate has taken a dip as China’s wet season comes to an end, but mining professionals predict this will only be temporary, […] In 2020, one modern Bitcoin mining machine (commonly known as an ASIC), like the Whatsminer M20S, generates around $8 in Bitcoin revenue every day. If you compare this to the revenue of mining a different crypto currency, like Ethereum, which is mined with graphics cards, you can see that the revenue from Bitcoin mining is twice that of mining with the same amount GPUs you could buy for one ... Just because it's not profitable for you to mine doesn't mean it might not be profitable for someone else. Also, if you get payment in cash and Bitcoin falls, you'll be happy. If you get BTC and Bitcoin rises, you'll be happy. That's a choice for you to take on which one. Gamble with it. Keep mining, but do it with your own pool software (eloipool). Your odds of finding a block are extremely ... However, mining is hot work for a CPU/GPU/ASIC and these things need to be cooled (extra cost) and they can just break (extra cost) and plus you need to purchase them (extra cost). So these are the overheads that you might expect to have to cover. Today, we will be looking into how a USB ASIC miner work and if it is still profitable for mining in 2020. The Origin of the USB ASIC Miner. While at first Bitcoin could only be mined with CPU power, in 2013, a new type of mining hardware emerged the ASIC miner (Application Specific Integrated Circuit).. ASICs are special hardware designed only for mining cryptocurrencies that are based on the ... According to Binance Research, the mining allocation problem can be referred to as a problem of efficient resource allocation, from the perspective of participants in the Bitcoin mining industry: SHA-256 (ASIC) miners. Specifically, for two Proof-of-Work (PoW) blockchains with the same hashing function (e.g., SHA256), the profitability of both blockchains should not diverge in the long-term ...

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Is mining Bitcoin profitable? Basic economics of cryptocurrency mining (Excel)

Are USB Bitcoin Miners profitable right now? This video will show you all of the facts you need to know about usb bitcoin miners and how much money they actu... Sorry about the echo i need some foam or something to make this room not sound like its empty =p asicminervalue.com ubit pci risers https://amzn.to/2mG73Df Easy way to get started mining crypto ... Is GPU mining still worth it? Is GPU mining profitable in 2020?! We review GPU mining profitable and the best graphics cards for mining in 2020 along with CP... Is mining Bitcoin BTC still profitable in 2020? Let's review mining profitability, Bitcoin, Bitcoin Cash, and Bitcoin SV. Block reward halving, network diffi... Is Altcoin ASIC mining still profitable?! Altcoin mining has been an exciting way to earn passive income in cryptocurrency and an alternative to mining Bitcoin directly. Let's review my mining ... How profitable is it to mine cryptocurrencies? And how to figure out whether the mining is profitable? Today we investigate some simple economics of blockcha... BTC mining ASICs from China profitability in 2018....Bitcoin mining at home is profitable or not profitable? Bitcoin mining farms like the ones in China are getting profitable hashrates with there ... Is Cryptocurrency / Bitcoin mining still profitable in 2019? With the recent launch of two new highly profitable coins, yes it sure is but just how much? htt... #bitcoin #bitcoinmining #bitcoinminingsoftware By Far The BEST Bitcoin Mining Software In 2020 (Profitable). This is a review on the most profitable, easy, a...

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