How to Mine Dogecoin - Bitcoin Market Journal

Multi Mining

This subreddit is dedicated to profit based coin mining pools.
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Multi apartment clustered cryptocurrency mining rig

So you’ve probably just heard all your classes are online. And now you’re trying to sublet your apartment but no one’s gonna take it. So now you’re gonna be paying at least $1000/month for an empty apartment. I have a proposal that can reduce that cost and possibly turn a profit.
Firstly, we have a very high risk credit market on our hands. The Federal Reserve has been pumping money into the economy and at some point the US dollar will have to inflate while growth stagnates (aka stagflation). During stagflationary periods in the past the price of non-fiat currencies like gold or silver has skyrocketed. Recently cryptocurrencies have emerged with the same general economic properties of such commodities. Therefore we may see an increase in their values as the Fed keeps pumping more money into the economy.
As of now in order to generate enough money per month to pay off rent in South Campus Commons, each apartment would need a Bitcoin rig capable of generating ~2200 TH/s (since you don’t pay for electricity). For the Varsity and View this might have to be higher considering the cost of electricity. This is definitely possible with new ASIC chips that are solely built for the purpose of running Bitcoin hashing algorithms. For other cryptocurrencies (Ethereum, Litecoin, Dogecoin), these rates may be different. But like any good portfolio manager, diversifying our investments will ensure we have a profitable outcome.
If enough students come together to construct a Bitcoin mining rig in their apartments we could essentially create a multi apartment clustered miner to be able to generate Bitcoin. On top of that, because campus server resources will be diminished due to online classes, we can in turn utilize that computing power to help mine such cryptocurrencies. As a result we won’t have to find people to sublet our apartments to and won’t have to worry about the financial undertakings associated with it.
TL;DR: Corona collectively fucked everyone in the ass and we should build a massive Bitcoin rig to pay off our rent.
submitted by terpetrator251 to UMD [link] [comments]

How does cryptocurrency works?

How does cryptocurrency works?
When we were a much smaller society, people could trade in the community pretty easily, but as the distance in our trade grew, we ended up inventing institutions such as banks, markets, stocks etc. that help us to conduct financial transactions. The currencies we are operating with nowadays are bills or coins, controlled by a centralized authority and tracked by previously mentioned financial institutions. The thing is, having a third party in our money transactions is not always what we wish for. But fortunately, today we have a tool that allows us to make fast and save financial transactions without any middlemen, it has no central authority and it is regulated by math. Sounds cool, right? Cryptocurrency is this tool. It is quite a peculiar system, so let’s take a closer look at it.
by StealthEX

Layers of a crypto-cake

Layer 1: Blockchain

First of all – any cryptocurrency is based on the blockchain. In simple words, blockchain is a kind of a database. It stores information in batches, called blocks that are linked together in a chronological way. As the blockchain is not located in one place but rather on thousands of computers around the globe, the blockchain and the transactions thus are decentralized, they have no head center. The newest blocks of transaction are continuously added on (or changed) to all the previous blocks. That’s how you get a cryptocurrency blockchain.
The technology’s name is a compound of the words “block” and “chain”, as the “blocks” of information are linked together in a “chain”. That’s how crypto security works – the information in the recently created block depends on the previous one. It means that no block can be changed without affecting the others, this system prevents a blockchain from being hacked.
There are 2 kinds of blockchain: private and public. Public, as goes by its name, is publicly available blockchain, whereas private blockchain is permissioned, which only a limited number of people have access to.

Layer 2: Transaction

In fact, everything begins with the intention of someone to complete a transaction. A transaction itself is a file that consists of the sender’s and recipient’s public keys (wallet addresses) and the amount of coins transferred. The sender begins by logging in into his cryptocurrency wallet with the private key – a unique combination of letters and numbers, something you would call a personal password in a bank. Now the transaction is signed and the first step which is called basic public key cryptography is completed.
Then the signed (encrypted) transaction is shared with everyone in the cryptocurrency network, meaning it gets to every other peer. We should mention that the transaction is firstly queued up to be added to the public ledger. Then, when it’s broadcasted to the public ledger, all the computers add a new transaction to a shared list of recent transactions, known as blocks.
Having a ledger forces everyone to “play fair” and reduce the risk of spending extra. The numbers of transactions are publicly available, but the information about senders and receivers is encrypted. Each transaction holds on to a unique set of keys. Whoever owns a set of keys, owns the amount of cryptocurrency associated with those keys (just like whoever owns a bank account owns the money in it). This is how peer-to-peer technology works.

Layer 3: Mining

Now let’s talk about mining. Once confirmed, the transaction is forever captured into the blockchain history**.** The verification of the block is done by Cryptocurrency Miners – they verify and then add blocks to the public ledger. To verify them, miners go down on the road of solving a very difficult math puzzle using powerful software, which is that the computer needs to produce the correct sequence number – “hash” – that is specific to the given block, there is not much chance of finding it. Whoever solves the puzzle first, gets the opportunity to officially add a block of transactions to the ledger and get fresh and new coins as reward. The reward is given in whatever cryptocurrency’s blockchain miners are operating into. For example, BTC originally used to reward miners in 50 BTC, but after the first halving it decreased to 25 BTC, and at present time it is 6.25 BTC. The process of miners competing against each other in order to complete the transactions on the network and get rewarded is known as the Proof-of-Work (PoW) algorithm, which is natural for BTC and many other cryptocurrencies. Also there are another consensus mechanisms: Proof-of-Stake (PoS), Delegated Proof-of-Stake (dPoS), Proof-of-Authority (PoA), Byzantine Fault Tolerance (BFT), Practical Byzantine Fault Tolerance (pBFT), Federated Byzantine Agreement (FBA) and Delegated Byzantine Fault Tolerance (dBFT). Still, all of them are used to facilitate an agreement between network participants.
The way that system works – when many computers try to verify a block – guarantees that no computer is going to monopolize a cryptocurrency market. To ensure the competition stays fair, the puzzle becomes harder as more computers join in. Summing it up, let’s say that mining is responsible for two aspects of the crypto mechanism: producing the proof and allowing more coins to enter circulation.

Types of cryptocurrency

In the virtual currency world there are a bunch of different cryptocurrency types with their own distinctive features.
The first cryptocurrency is, of course, Bitcoin. Bitcoin is the first crypto coin ever created and used. BTC is the most liquid cryptocurrency in the market and has the highest market cap among all the cryptocurrencies.

Altcoins

The term ‘altcoins’ means ‘alternatives’ of Bitcoin. The first altcoin Namecoin was created in 2011 and later on hundreds of them appeared in crypto-world, among them are Ravencoin, Dogecoin, Litecoin, Syscoin etc. Altcoins were initially launched with a purpose to overcome Bitcoin’s weak points and become upgraded substitutes of Bitcoin. Altcoins usually stand an independent blockchain and have their own miners and wallets. Some altcoins actually have boosted features yet none of them gained popularity akin to Bitcoin. More about altcoins in our article.

Tokens

Token is a unit of account that is used to represent the digital balance of an asset. Basically tokens represent an asset or utility that usually are made on another blockchain. Tokens are registered in a database based on blockchain technology, and they are accessed through special applications using electronic signature schemes.
Tokens and cryptocurrencies are not the same thing. Let’s explain it more detailed:
• First of all, unlike cryptocurrencies, tokens can be issued and managed both centralized and decentralized.
• The verification of the token transactions can be conducted both centralized and decentralized, when cryptocurrencies’ verification is only decentralized.
• Tokens do not necessarily run their own blockchain, but for cryptocurrencies having their own blockchain is compulsory.
• Tokens’ prices can be affected by a vast range of factors such as demand and supply, tokens’ additional emission, or binding to other assets. On the other hand, the price of cryptocurrencies is completely regulated by the market.
Tokens can be:
• Utility tokens – something that accesses a user to a product or service and support dApps built on the blockchain.
• Governance tokens – fuel for voting systems executed on the blockchain.
• Transactional tokens – serve as a unit of accounts and used for trading.
• Security tokens – represent legal ownership of an asset, can be used in addition to or in place of a password.
Tokens are usually created through smart contracts and are often adapted to an ICO – initial coin offering, which is a means of crowdfunding. It is much easier to create tokens, that is why they make a majority of coins in existence. Altcoin and token blockchains work on the concept of smart contracts or decentralized applications, where the programmable, self-executing code is ruling the transactions within a blockchain. By the way, the vast majority of tokens were distributed on the Ethereum platform.

Forks

Generally a fork occurs when a protocol code, on which the blockchain is operating, is being changed, modified and updated by developers or users. Due to the changes, the blockchain splits into 2 paths: an old way of doing things and a new way. These changes may happen because: a disagreement between users and creators; a major hack, as it was with Ethereum; developers’ decision to fix errors and add new functionality. The blockchain mainly splits into hard forks and soft forks. Shortly speaking, coin hard forks cannot work with older versions while soft forks still can work with older versions.
Hard fork – after a hard fork, a new version is completely separated from the previous one, there’s no connection between them anymore, although the new version keeps the data of all the previous transactions but now on, each version will have its own transaction history. In order to use the new versions, every node has to upgrade their software. A hard fork requires majority support (or consensus) from coin holders with a connection to the coin network. If enough users don’t update then you will be unable to get a clean upgrade which could lead to a break in the blockchain.
Soft fork – a protocol change, but with backward compatibility. The rules of the network have been changed, but nodes running the old software will still be able to validate transactions, but those updated nodes won’t be able to mine new blocks. So to be used and useful, soft forks require the majority of the network’s hash power. Otherwise, they risk becoming set out and anyway ending up as a hard fork.

Stablecoins

As it comes from the name, stablecoins are price-stabilized that are becoming big in the crypto world. Still enjoying most of the “typical-cryptocurrency” benefits, it is standing out as a fixed and stable coin, not volatile at all. Stablecoins’ values are stabilized by pegging them to other assets such as the US Dollar or gold.
Stablecoins include Tether (USDT), Standard (PAX), Gemini Dollar (GUSD) which are backed by the US Dollar and approved by the New York State Department of Financial Services.

Conclusion

Now that we hacked into cryptocurrency, you probably understand that it is much less mysterious than it first seemed. Nowadays, cryptocurrencies are making the revolution of the financial institution. For example, Bitcoin is currently used in 96 countries and growing, with more than 12,000 transactions per hour. More and more investors are involved, banks and governments realize that these cutting edge technologies are prone to draw their control away. Cryptocurrencies are slowly changing the world and you can choose – either stand beside and observe or become part of history in the making.
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 300 coins and constantly updating the cryptocurrency list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example BTC to ETH.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected]).
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/09/29/how-does-cryptocurrency-works/
submitted by Stealthex_io to StealthEX [link] [comments]

Cryptocurrency Mining Today

Cryptocurrency Mining Today
Mining is one of the key concepts in the crypto world. Everyone who comes into contact with this sphere somehow wonders about the mining of coins. How profitable is mining in 2020, and what are the current trends?
by StealthEX
Crypto mining is a process during which a computer solves mathematical problems, resulting in the release of new blocks of information. This gives its owners a certain amount of coins, which is deposited in the total pot and registered in the public “ledger”, so-called blockchain. Machines in the network are also checking transactions with existing coins, adding this information to the blockchain as well.
As for the issue itself, the most well-known algorithm of mining is Proof-of-Work (PoW), used in the networks of Bitcoin, Litecoin, Ethereum and many others.
During the mining process, the latest transactions are verified and compiled into blocks. It is usually a series of calculations with an iteration of parameters to find a hash with the specified properties. The node which first solves this problem receives a reward. This approach was specifically designed to encourage those who provide the computing power of their mining machines to maintain the network and mine new coins.
It is usually no need for a newcomer to know and understand all the complicated details of the mining process, just how much they can earn with certain equipment and electricity costs.
Everything is designed in such a way that the complexity of calculations is steadily increasing, which then requires a constant increase in the computing power of the network. In 2009-2010, for mining bitcoin, miners only had to download and run the software on their personal computers, but very soon the network became so complicated that even with best PCs with a powerful processor, mining became unprofitable. That’s why miners started to use more effective video cards (graphics processing units or GPUs) and join them in so-called “farms”.
In most systems, the number of coins is determined in advance. Also, many networks are gradually reducing rewards for miners. Such emission restrictions were built into the algorithm to prevent inflation.
Thus, the cost of mining for smaller participants no longer pays off, which makes them turn off their hardware or switch to another coin where they can still make their profit.
In particular, on the evening of May 11, 2020, a halving took place in the bitcoin network, the reward for mining was halved, from 12.5 to 6.25 BTC. In June, the revenue of bitcoin miners decreased by 23%, to the lowest since March 2019.
However, in mid-June, the difficulty of bitcoin mining showed a record growth over the past 2.5 years. Mining the first cryptocurrency has become 15% more difficult. Although, by the beginning of July, the complexity had stabilized. The growing difficulty of mining the first cryptocurrency indicates that new miners have joined its network. Previously, some of them turned off the equipment, as it became less profitable to mine the coin due to a decrease in its cost and halving.
Now the absolute majority of new coins are generated by industrial mining. This is done by large data centers equipped with specialized computers based on the ASIC architecture. ASICs are integrated circuits that were initially optimized for a specific task, namely the mining of cryptocurrencies. They are much more productive than CPUs and video cards, and at the same time consume much less electricity. ASIC computers are the main type of equipment for the industrial production of crypto.
So now, after the halving, BTC coin mining has become even less profitable. For beginners, mining the first cryptocurrency is unlikely to be suitable. It is more often earned by large companies that have all the necessary equipment, access to cheap rental conditions, electricity and maintenance.
Hence newbies are better off starting with mining altcoins. It is even more profitable to work in a pool, that is, together with other miners. This can help to place farms in one place and negotiate a favourable price for electricity, so you can get a small but stable income dux to the total capacity of the pool.
Therefore, it has become much more difficult for regular users who have only non-specialized equipment at their disposal to generate virtual money. However, GPU developers have significantly increased the performance of their devices in recent years, so mining on a video card is still common.
Another important event that changes the situation in the mining sphere will be the hardfork of the Ethereum network with the turn to the Proof-of-Stake algorithm. For now, Ethereum is the most popular altcoin for GPU mining, but Ethereum 2.0 will not require using such powerful equipment, so then it switches to PoS, GPU owners will have to look for alternative coins to mine.
At the moment the most popular altcoins for mining on GPUs are Ethereum (ETH), Ethereum Classic (ETC), Grin (GRIN), Zcoin (XZC), Dogecoin and Ravencoin (RVN). There are actually a lot of mining programs that automatically determine which coin is more profitable to mine at the moment.
In the coming years, the market is waiting for a race of technologies. Manufacturers are investing in finding ways to increase hashing speed and reduce power consumption. Mining pools will play an increasing role. The market will also be affected by applications for mining cryptocurrencies on smartphones that require low computing power, such as Dash or Litecoin.
And remember StealthEX supports more than 250 coins and constantly updating the list, so you can easily swap your crypto haul to more popular altcoins. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example ETH to BTC.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Follow us on Medium, Twitter, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected].
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/07/28/mining-today/
submitted by Stealthex_io to StealthEX [link] [comments]

Smartmining.cc Review: 2%-4% daily for 60-180 days with principal included

Smartmining.cc is a high yield investment project whose theme is for cloud mining. It provides long term deposit plans, and started on 03rd Jun 2020. You can earn 2%-4% daily for 60–180 days with principal included. Admin bought listing on my website yesterday, and my first withdrawal request was already received two hours ago. Now let me introduce it in details.
Started: 2020–06–03
My deposit: $200
The amount of 200 USD has been withdrawn from your account. Accounts: U3869878->U24795174. Memo: Shopping Cart Payment. . Date: 06:31 06.07.20. Batch: 322597842
Investment Plans
Minimal amount for deposit is: Bitcoin 0.001, Litecoin 0.1, Dogecoin 1000, Dash 0.05, Ethereum 0.01, Ethereum Classic 0.5, Bitcoin Cash 0.01, Zcash 0.05, Ripple 10, USD Cash 1, Tether 1 and Dollar 1. Your daily profit will be 2%-4% according to your deposit amount. The more GH/s you purchase, the higher level your account will reach. With each increase in the LEVEL account, your daily profit increase. What’s more, your daily profit increases by + 0.02% for each day without withdrawal, but I suggest you to withdraw profit every day until you get back 100% initial deposits. You can see details below:
(1) 0–999 GH/s, 2% daily profit
(2) 1000–2999 GH/s, 2.1% daily profit
(3) 3000–5999 GH/s, 2.2% daily profit
(4) 6000–9999 GH/s, 2.3% daily profit
(5) 10000–19999 GH/s, 2.4% daily profit
(6) 20000–29999 GH/s, 2.5% daily profit
(7) 30000–99999 GH/s, 2.6% daily profit
(8) 100000–199999 GH/s, 2.8% daily profit
(9) 200000–999999 GH/s, 3% daily profit
(10) 100000–2999999 GH/s, 3.5% daily profit
(11) 3000000 GH/s, 4% daily profit
Deposit works according to the selected contract, and the contract is from 60 to 180 days. You should deposit money into your balance first, and then buy Hash with the money on your balance. Your initial deposit is already in your daily profit, so principal will not be returned in the end.
For example, I buy GH/s with $200, and choose the 60 day contract. My daily profit will be 2.5% for 60 days. At the end of investment term, I will get back $300 totally($100 profit with $200 initial deposits).
But there is one things you should know that you must choose which ecurrency you want to mining, or we can say like this, which ecurrency you want your daily profit to be paid to. For example, if you want your daily profit to be paid through BTC, then you should turn off all other ecurrency mining process and only leave BTC mining. You can see the mining choice on the “Mining” page of their website.
Promotional Rewards(7%-2%)
For promoters, Smartmining.cc has developed a profitable partner program, which has two levels. First level is 7%, and second level is 2%. Unlike most HYIP projects, promoters can configure refback for your referrals on the page “Partners”. I already set 100% RCB for my direct active investors. Welcome to join under my team.
Payment Options
PerfectMoney, Payeer, Bitcoin, Litecoin, Ethereum, BitcoinCash, Ripple, Dash, Zcash, Tether, Dogecoin and USD Cash.
Withdrawal Type
The request for withdrawal is processed within an hour but no more than 48 hours. Minimal amount for withdrawal is: Bitcoin 0.001, Litecoin 0.1, Dogecoin 1000, Dash 0.05, Ethereum 0.01, Ethereum Classic 0.5, Bitcoin Cash 0.01, Zcash 0.05, Ripple 10, USD Cash 1, Tether 1, Dollar 1
Whois Details
Domain Time: 2020/05/25–2020/05/25
IP Address: 2020–05–25104.27.188.23–574 other sites hosted on this server
IP Location: Texas — Dallas — Cloudflare Inc.
ASN: AS13335 CLOUDFLARENET, US (registered Jul 14, 2010)
Summary
Smartmining.cc designs an original template for its website, and it now supports 10 languages. So you can choose your native language at their top menu. Recent deposits and withdrawals are shown at the bottom part of their website, you can refer to the data according to your own experience. In my view, the profit Smartmining.cc provides is in normal range, and the referral system also designs in a reasonale mechanism. So, any investor who is interested can take part in with their spare money.
At the right side bottom of their website, you can find a group chat widget. Click it, and you can communicate with other investors online. If you still have other questions, you can contact admin through the info below.
Contact Info
Email: [email protected]
Twitter: https://twitter.com/smart_minig
Register: https://smartmining.cc/partnehyiper
More: https://www.hyiper.net/blog/185.html
submitted by vipinvestor1988 to u/vipinvestor1988 [link] [comments]

Mining and Dogecoin - Some FAQs

Hey shibes,
I see a lot of posts about mining lately and questions about the core wallet and how to mine with it, so here are some facts!
Feel free to add information to that thread or correct me if I did any mistake.

You downloaded the core wallet

Great! After a decade it probably synced and now you are wondering how to get coins? Bad news: You don't get coins by running your wallet, even running it as a full node. Check what a full node is here.
Maybe you thought so, because you saw a very old screenshot of a wallet, like this (Version 1.2). This version had a "Dig" tab where you can enter your mining configuration. The current version doesn't have this anymore, probably because it doesn't make sense anymore.

You downloaded a GPU/CPU miner

Nice! You did it, even your antivirus system probably went postal and you started covering all your webcams... But here is the bad news again: Since people are using ASIC miners, you just can't compete with your CPU hardware anymore. Even with your more advanced GPU you will have a hard time. The hashrate is too high for a desktop PC to compete with them. The blocks should be mined every 1 minute (or so) and that's causing the difficulty to go up - and we are out... So definitly check what is your hashrate while you are mining, you would need about 1.5 MH/s to make 1 Doge in 24 hours!

Mining Doge

Let us start with a quote:
"Dogecoin Core 1.8 introduces AuxPoW from block 371,337. AuxPoW is a technology which enables miners to submit work done while mining other coins, as work on the Dogecoin block chain."
- langerhans
What does this mean? You could waste your hashrate only on the Dogecoin chain, probably find never a block, but when, you only receive about 10.000 Dogecoins, currently worth about $25. Or you could apply your hashrate to LTC and Doge (and probably even more) at the same time. Your change of solving the block (finding the nonce) is your hashrate divided by the hashrat in sum - and this is about the same for Doge and LTC. This means you will always want to submit your work to all chains available!

Mining solo versus pool

So let's face it - mining solo won't get you anywhere, so let's mine on a pool! If you have a really bad Hashrate, please consider that: Often you need about $1 or $2 worth of crypto to receive a payout (without fees). This means, you have to get there. With 100 MH/s on prohashing, it takes about 6 days, running 24/7 to get to that threshold. Now you can do the math... 1 MH/s = 1000 KH/s, if you are below 1 MH/s, you probably won't have fun.

Buying an ASIC

You found an old BTC USB-miner with 24 GH/s (1 GH/s = 1000 MH/s) for $80 bucks - next stop lambo!? Sorry, bad news again, this hashrate is for SHA-256! If you want to mine LTC/Doge you will need a miner using scrypt with quite lower numbers on the hashrate per second, so don't fall for that. Often when you have a big miner (= also loud), you get more Hashrate per $ spent on the miner, but most will still run on a operational loss, because the electricity is too expensive and the miners will be outdated soon again. Leading me to my next point...

Making profit

You won't make money running your miner. Just do the math: What if you would have bougth a miner 1 year ago? Substract costs for electricity and then compare to: What if you just have bought coins. In most cases you would have a greater profit by just buying coins, maybe even with a "stable" coin like Doges.

Cloud Mining

Okay, this was a lot of text and you are still on the hook? Maybe you are desperated enough to invest in some cloud mining contract... But this isn't a good idea either, because most of such contracts are scams based on a ponzi scheme. You often can spot them easy, because they guarantee way to high profits, or they fake payouts that never happened, etc.
Just a thought: If someone in a subway says to you: Give me $1 and lets meet in one year, right here and I give you $54,211,841, you wouldn't trust him and if some mining contract says they will give you 5% a day it is basically the same.
Also rember the merged mining part. Nobody would offer you to mine Doges, they would offer you to buy a hashrate for scrypt that will apply on multiple chains.

Alternative coins

Maybe try to mine a coin where you don't have ASICs yet, like Monero and exchange them to Doge. If somebody already tried this - feel free to add your thoughts!

Folding at Home (Doge)

Some people say folding at home (FAH - https://www.dogecoinfah.com/) still the best. I just installed the tool and it says I would make 69.852 points a day, running on medium power what equates to 8 Doges. It is easy, it was fun, but it isn't much.
Thanks for reading
_nformant
submitted by _nformant to dogecoin [link] [comments]

What are the top #10 crypto coins everyone should know?

Top 10 Crypto Coins you might not (yet) have heard about (but are important to know)

Ever heard of Bitcoin, Bitcoin Cash and maybe Ether? That‘s a rather rhetorical question as you have somehow found your way to this article. Knowledge about the existence of crypto currencies, mostly about bitcoin is part of the technology mainstream. About 9 out of 10 Americans have knowledge about bitcoin as latest enquiries show. That raises two interesting questions:

1) How far along the way is the mass adoption of crypto currencies worldwide?

Everybody knowing about something should mean also everybody using it, correct? For bitcoin (and also other crytos) that does not seem to be true. There are around 35 million bitcoin wallets worldwide and around 50 million bitcoin users. That is not even 1% of our global population. Bitcoin and other cryptos are still not part of everyday life for the majority of humanity. If this feels different for you you might be living in a bubble. The adoption however is an important measure when it comes to anticipating a future price increase in the value of bitcoin. Which leads us to the second interesting question:

2) What are the crypto coins that are less well known but still show potential

Besides bitcoin there are other crypto currencies, also called alternative coins or altcoins. Bitcoin is the dominant crypto coin capturing a overall market cap of around 70% – 75%. This means that from all investments done into cryptos around 70% – 75% are placed into bitcoins. Whenever there is a bull rally in the markets, altcoins tend to outperform the market leader bitcoin. Imagine this effect similarly to the S&P 500 Index encompassing the top 500 US companies. When the S&P 500 Index value increases 1% this can mean that one index constituent actually increased by 30% in value pushing the overall index value.
Here a list of interesting altcoins you might want to follow more closely in the future (not connected to any type of investment advice whatsoever):
Waves (WAVES)
Waves is the coin of the Waves platform, a blockchain platform for custom tokens. Custom tokens target a mass market and allow users with limited technical knowledge to build virtually any type of use case based on the token. Waves USP is user friendliness as well that reflects in their lite wallet as well.
Vertcoin (VTC)
Vertcoin calls itself the peoples coin which refers to Vertcoin‘s goal to be so easy that everyday people with desktop computers can mine Vertcoin. Vertcoin, on the market since 2014, aimed to equal out disadvantages of bitcoin by for example applying a proof-of-work mechanism with Lyra2REv3 as underlying hash function.
PotCoin (POT)
PotCoin aims to become the number one currency for the constantly growing cannabis industry. The initial idea was to have a payment method in place that would facilitate transactions in the legal marijuana industry – a industry still underserved by the classical banking sector. In 2015 PotCoin moved to a proof-of-stake mechanism.
Monero (XMR)
Monero‘s focus is anonymity. Unlike for example bitcoin, money in- and outflows are not publicly visible on Monero‘s blockchain. Transaction mining is also not possible as Monero is mixing transaction in such a manner that is basically impossible to reverse engineer useful information out of the data.
Komodo (KMD)
Komodo, in its core based on bitcoins blockchain, was launched to equal out the many disadvantages of Bitcoin. The ambition of Komodo reflects in the vast amount of features and coming features this coin is equipped with. Komodo started by allowing for real anonymity in transactions.
Dogecoin (DOGE)
Dogecoin started as a joke, as a parody to Bitcoin and its skyrocking success. In its core Dogecoin is similar to bitcoin or litecoin respectively. The biggest difference however is that (unlikes bitcoins 21 million coins limit) there is no limit for mining Dogecoins.
DigiByte (DGB)
If you feel that bitcoin is slow, insecure and bulky then DigiByte should be your coin of choice. It was created having mainly cybersecurity in mind. DigiByte is several times faster compared to Bitcoin and the coins have very favorable security features build in making it safer to use and creating use-cases in the IoT space for example.
Decred (DCR)
Decred is bringing grasroot democracy to the crypto world. With Bitcoin the complete power over the blockchain is in the hand of the miners. With Decred this power is split within the stakeholders (developers, miners and investors) by a transparent reward system. In addition to that Decred has many innovative features build in.
Dash (DASH)
Dash coin was designed with keeping an eye on user privacy. Transactions are not publicly accessible and mixed in a manner that it‘s impossible to reverse engineer. Dash became famous when they offered easy accessibility to their network for the inhabitants of Venezuela during their economic crisis.
BlackCoin (BLK)
BlackCoin was build with the focus to be fully working on the Proof-of-Stake principle, making it very fast in validating transactions. That not only makes it fun to use but is actually creating use-cases such as in e-commerce where a fast payment confirmation is critical.
Litecoin (LTC)
Litecoin was build as a competitor to Bitcoin and is one of the best known altcoins. Litecoin is fast in creating blocks (2,5 minutes) making validating transactions faster as well. Mining is distributed among the miners much better than bitcoin making centralisation much harder.
The featured coins here are subject to many risk factors including full or partial loss of value. The feature is not intended to serve as investment advice.

Are you among the winning early adopters?

All mentioned coins can be used to purchase anonymous domains and related anonymous webservices on our website BitDomain.BIZ. The reason for that is that early adoption has proven to be a winning strategy in the crypto space. That is why at BitDomain.BIZ we are constantly accepting new and promising crypto coins to purchase our anonymous digital publishing services.
submitted by FrankBitDomain to u/FrankBitDomain [link] [comments]

What are the top #10 crypto coins everyone should know?

Top 10 Crypto Coins you might not (yet) have heard about (but are important to know)

Ever heard of Bitcoin, Bitcoin Cash and maybe Ether? That‘s a rather rhetorical question as you have somehow found your way to this article. Knowledge about the existence of crypto currencies, mostly about bitcoin is part of the technology mainstream. About 9 out of 10 Americans have knowledge about bitcoin as latest enquiries show. That raises two interesting questions:

1) How far along the way is the mass adoption of crypto currencies worldwide?

Everybody knowing about something should mean also everybody using it, correct? For bitcoin (and also other crytos) that does not seem to be true. There are around 35 million bitcoin wallets worldwide and around 50 million bitcoin users. That is not even 1% of our global population. Bitcoin and other cryptos are still not part of everyday life for the majority of humanity. If this feels different for you you might be living in a bubble. The adoption however is an important measure when it comes to anticipating a future price increase in the value of bitcoin. Which leads us to the second interesting question:

2) What are the crypto coins that are less well known but still show potential

Besides bitcoin there are other crypto currencies, also called alternative coins or altcoins. Bitcoin is the dominant crypto coin capturing a overall market cap of around 70% – 75%. This means that from all investments done into cryptos around 70% – 75% are placed into bitcoins. Whenever there is a bull rally in the markets, altcoins tend to outperform the market leader bitcoin. Imagine this effect similarly to the S&P 500 Index encompassing the top 500 US companies. When the S&P 500 Index value increases 1% this can mean that one index constituent actually increased by 30% in value pushing the overall index value.
Here a list of interesting altcoins you might want to follow more closely in the future (not connected to any type of investment advice whatsoever):
Waves (WAVES)
Waves is the coin of the Waves platform, a blockchain platform for custom tokens. Custom tokens target a mass market and allow users with limited technical knowledge to build virtually any type of use case based on the token. Waves USP is user friendliness as well that reflects in their lite wallet as well.
Vertcoin (VTC)
Vertcoin calls itself the peoples coin which refers to Vertcoin‘s goal to be so easy that everyday people with desktop computers can mine Vertcoin. Vertcoin, on the market since 2014, aimed to equal out disadvantages of bitcoin by for example applying a proof-of-work mechanism with Lyra2REv3 as underlying hash function.
PotCoin (POT)
PotCoin aims to become the number one currency for the constantly growing cannabis industry. The initial idea was to have a payment method in place that would facilitate transactions in the legal marijuana industry – a industry still underserved by the classical banking sector. In 2015 PotCoin moved to a proof-of-stake mechanism.
Monero (XMR)
Monero‘s focus is anonymity. Unlike for example bitcoin, money in- and outflows are not publicly visible on Monero‘s blockchain. Transaction mining is also not possible as Monero is mixing transaction in such a manner that is basically impossible to reverse engineer useful information out of the data.
Komodo (KMD)
Komodo, in its core based on bitcoins blockchain, was launched to equal out the many disadvantages of Bitcoin. The ambition of Komodo reflects in the vast amount of features and coming features this coin is equipped with. Komodo started by allowing for real anonymity in transactions.
Dogecoin (DOGE)
Dogecoin started as a joke, as a parody to Bitcoin and its skyrocking success. In its core Dogecoin is similar to bitcoin or litecoin respectively. The biggest difference however is that (unlikes bitcoins 21 million coins limit) there is no limit for mining Dogecoins.
DigiByte (DGB)
If you feel that bitcoin is slow, insecure and bulky then DigiByte should be your coin of choice. It was created having mainly cybersecurity in mind. DigiByte is several times faster compared to Bitcoin and the coins have very favorable security features build in making it safer to use and creating use-cases in the IoT space for example.
Decred (DCR)
Decred is bringing grasroot democracy to the crypto world. With Bitcoin the complete power over the blockchain is in the hand of the miners. With Decred this power is split within the stakeholders (developers, miners and investors) by a transparent reward system. In addition to that Decred has many innovative features build in.
Dash (DASH)
Dash coin was designed with keeping an eye on user privacy. Transactions are not publicly accessible and mixed in a manner that it‘s impossible to reverse engineer. Dash became famous when they offered easy accessibility to their network for the inhabitants of Venezuela during their economic crisis.
BlackCoin (BLK)
BlackCoin was build with the focus to be fully working on the Proof-of-Stake principle, making it very fast in validating transactions. That not only makes it fun to use but is actually creating use-cases such as in e-commerce where a fast payment confirmation is critical.
Litecoin (LTC)
Litecoin was build as a competitor to Bitcoin and is one of the best known altcoins. Litecoin is fast in creating blocks (2,5 minutes) making validating transactions faster as well. Mining is distributed among the miners much better than bitcoin making centralisation much harder.
The featured coins here are subject to many risk factors including full or partial loss of value. The feature is not intended to serve as investment advice.

Are you among the winning early adopters?

All mentioned coins can be used to purchase anonymous domains and related anonymous webservices on our website BitDomain.BIZ. The reason for that is that early adoption has proven to be a winning strategy in the crypto space. That is why at BitDomain.BIZ we are constantly accepting new and promising crypto coins to purchase our anonymous digital publishing services.
submitted by FrankBitDomain to u/FrankBitDomain [link] [comments]

Mining: Weird Time to Start, a Good Time to Think

Mining: Weird Time to Start, a Good Time to Think
Well, it’s supposed to be an optimistic article about most promising mining cryptos, but then something happened. No one was too naive to believe that the events unfolded around the COVID-19 pandemic will not affect global markets, but the turbulence that occurred was very significant and, what is most sad, it is still very difficult to say how soon the situation will stabilize.
https://preview.redd.it/9xxheofluzp41.png?width=1024&format=png&auto=webp&s=cd8ca033faddf57ea041e82ceadee1037b8587f1
Many people were already bothered that crypto mining is becoming less profitable in 2020 and will be meaningless very soon, but even though big companies having bigger resources took over most of the industry, cryptocurrency mining using video cards remains available to common users and still has potential.
Despite, the volatility of the cryptocurrency market hashrate of the Bitcoin blockchain network yet remains almost at the same level and that is a quite positive sign. At the moment, the most reliable option seems to be to leave mining to large ASIC-farms and return when the stock panic subsides and the prospects will be clearer.
Although Bitcoin is still the most popular cryptocurrency on the market, every year the complexity of operations necessary for its production increases, and rewards fall (after halving in May 2020, we will talk about 6.25 BTC per block). For mining many altcoins, the threshold for entry is much lower, therefore it makes sense to look for a more profitable option among them.
But first, let’s try to understand a little what conditions we need for profitable mining.
There are several crucial aspects that determine how profitable mining will be. These are such obvious things as the price of the currency or the amount of reward for the generated block.
And this is the reason it is now very difficult to calculate the possible income. One way or another, the market price of altcoins depends on the position of bitcoin, which is experiencing bad times. For several months, the world of crypto mining has been preparing for the May halving, because the reduced supply led to a significant increase in prices. This time should not have been an exception, but now when bitcoin does not rise above $5500 and risks falling below $3500, we can only make vague guesses about its potential price in May. Many analysts tend to believe that closer to the middle of April, the negative effect of the crisis should be reduced, and positive expectations from halving and a large amount of cash from investors should have a positive impact on the price of bitcoin. Altcoins, as a rule, repeat the dynamics of the first cryptocurrency and will also continue their growth to historical highs in the year’s future.
Next, you should also pay attention to the complexity of mining because it affects the time and energy spent on generating the block. Do not forget about the cost of electricity in your region, as one extra-large bill can negate all your efforts to earn money on currency mining.
Do not forget about expenses on a mining rig and it’s amortisation.
In addition to the above, you should find out how practical the chosen currency is: whether it can be exchanged for fiat or more popular coins, what fees are charged by exchanges that work with it, and what reputation it has in general.
In order to avoid unpleasant mistakes, it is easier and more reliable to check the possible profit in one of the many calculators.

Best altcoins to mine in 2020

Monero is the currency with the highest anonymity rates, which stays attractive to many users and remains one of the strongest altcoins. The specific proof-of-work hashing algorithm does not allow ASIC-miners, so it is relatively easy to mine using personal computer’s processors and graphics cards. AMD graphic cards are preferable for this task, but NVidia suits as well. The current block reward is 2.47 XMR.
Litecoin is one of the oldest Bitcoin forks, but unlike it uses a different “Script” PoW algorithm which allows less powerful GPUs to mine coins. Litecoin is on the most popular, and successful Bitcoin forks and considered one of the most stable cryptocurrencies. Block mining reward is 12.5 LTC.
Ravencoin is another Bitcoin hardfork, and like Monero’s its X16R algorithm is practically unavailable for ASIC machines. Raven keeps gaining popularity for many reasons – it has faster block time, higher mining reward (5,000 RVN at the moment) and secure messaging system.
Dogecoin is not a joke anymore. Hard to believe, but this currency once made for fun, became one of the most valuable ones. Like Litecoin it uses Scrypt algorithm and great for mining with GPUs.
One more Bitcoin fork Bitcoin Gold was made specifically to kick out ASICs and clear the road for GPUs. It may not be the fastest-growing currency, but it is definitely one of the most stable.
That’s all for today. Stay safe, cause health is our most important asset.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected])
submitted by Stealthex_io to StealthEX [link] [comments]

Why is the RandomX algorithm being hyped to the moon?

TL;DR: don't assume the average return from mining RandomX will be higher than the current CryptonightR algorithm. Hold back your excitement for now.
I think we all need to bring something to our attention. Over the last month, there have been so many topics and comments here on MoneroMining about the new 'RandomX' algorithm. This algorithm is supposed to be launched a couple of months from now.
There are many questions like "is this a good hashrate for my CPU"? "What's your power usage on RandomX"? "How can I tune my CPU for RandomX"? "How would the algorithm perform on this hardware"? I think these are great constructive comments that are at the heart of what miners stand for. We miners love optimizing our rigs and educating ourselves on technological trends.
But I've noticed many questions such as "what parts should I buy for a RandomX mining rig"? "Is an AMD Ryzen 9 3900x a good investment"? "What parts will give me the most profit when RandomX launches"? Many of these questions are asked with very little research.
I think there's a gold fever brewing behind some of these comments. The kind of motives that have bankrupted many miners in the past bubbles.
As we have seen in 2014 and 2018, anybody who enters the crypto industry with an 'I want easy profit' attitude almost always goes bankrupt. They buy coins or hardware at the peak of the bubble. Sometimes they get lucky and sell their coins or rigs right before the crash (only to get burned in a future bubble later). But most of the time, these new users lose most of their investment.
As a veteran miner, a lot of alarm bells ring in my head when I read these kinds of RandomX hype posts.
I have no reason to think CPU mining will be more profitable on RandomX than on the current CryptonightR.
In the GPU mining community, I have the feeling that there's a lot of resentment over the 2018 crypto recession and the whole 'ASIC miner invasion'. I think people here are feeling burned over their losses last year and the evil ASIC takeover, and want an opportunity for the little guy to start mining again. So we're falsely seeing the RandomX ray of hope as a floodlight, and getting overexcited.
And in general, the ordinary person cannot make a significant, steady profit in the crypto mining industry. The guy who wrote that thread is very rich and even 100 GTX 1080 Ti's cost nothing to him. The reason he became wealthy is because he avoided get-rich-quick gimmicks back in the day (like the dotcom sites) and focused on learning technology for the future. Mining will not make you rich, and especially not RandomX coin tossing.
If you love RandomX, build your rig now, keep benchmarking and undervolting and have fun at it. But if you just want profit, wait until RandomX is up and running. And consider all the risks involved with a new algorithm and commercial mining in general.
So I hope we can all reconsider whether we're excited about RandomX for the right reasons. Let's try to avoid jumping to conclusions about profitability and hold off on the Newegg 'checkout' button. Even though 12 cores at 70 watts sounds awesome. Happy mining!
submitted by Hammereditor to MoneroMining [link] [comments]

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your Private Keys

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your Private Keys

https://preview.redd.it/u4x1o4p37zc41.png?width=700&format=png&auto=webp&s=01d1ff52c0b7fc1c9ae5bb4f161979ad1f4bb559
I’m a longtime blockchain enthusiast and developer and one of my biggest gripes about this space is how quickly every new project is widely dismissed as a “scam” or “shitcoin” by so many people before it even gets off the ground. Sure, there is a lot of uncharted territory with pirates lurking to steal your bags left and right but with a small amount of personal education you can exist safely in the world of crypto I promise! With this article I aim to help lift your knowledge a little higher while helping keep your funds a little safer!

So What Is Happening?

On Tuesday February 18, 2020 a new coin named Ring (RNG) will be minted. This coin aims to bring two unique and fresh methods of proofing to the crypto game, quite literally: Agent-Based Hive Mining (borrowed from LCC) and Proof-of-Play Mining, where literal gameplay is used to hash and reward miners! To celebrate and help spread the word, the team is giving away claims of free RNG to all holders of the following coins:
  • Litecoin Cash (LCC)
  • Bitcoin (BTC)
  • Dash (DASH)
  • Dogecoin (DOGE)
It's being touted as the world's first crypto "4-way fork" but I'd really call it more of a "4-way claim" since its a brand new chain and not based on the code of any of the rewarded coins. It's simply a clever method of allowing a wider range of coin holders a chance to participate in the launch of these exciting new features!

How Will This Process Work?

On the 18th of February, a balance snapshot will be taken of the four chains listed above. Anyone holding a balance with any of these coins at the time of the snapshot will be forever eligible to claim their RNG at any time. Because the only way to prove ownership of a crypto address is to supply the private keys, and pretty much EVERYONE will tell you to guard those things with your life, below I will outline exactly what to do so there is absolutely 0% risk of losing a single satoshi! This method will apply to ANY claim rewards of any coin in the future as well. Always practice #SafeForking!

How Do I Safely Claim My RNG?

STEP 1 -- BEFORE THE SNAPSHOT -- VERIFY ACCESS TO YOUR PRIVATE KEYS
All core wallets will allow you to export a private key of any address in your wallet but many third party services like exchanges and hot wallets do not allow access to them. In these cases you will need to send your funds out of the third party service and into some kind of personal wallet where you can reach the private keys yourself. Then just wait for the snapshot to happen…
To make things easier on yourself, you can optionally collect your original coins into as few addresses as possible BEFORE the snapshot. Doing so reduces the number of keys you will need to empty and import later. It’s just less work!
\** SNAPSHOT HAPPENS HERE... ****
STEP 2 -- ATER THE SNAPSHOT -- EMPTY ALL ADDRESSES YOU WISH TO CLAIM
After the snapshot is confirmed, withdraw all coins OUT of each of your origin coin addresses into brand new addresses leaving the original ones quite empty. This way when you import later there is NO risk of losing anything! Also know that after you import these private keys you should never use them again for safety’s sake! It’s kind of the whole reason you’re even reading this article in the first place.
STEP 3 -- EXPORT PRIVATE KEYS FOR ALL ADDRESS YOU WISH TO CLAIM
This is the most difficult part, are you ready? Once each claim address is confirmed to be EMPTY, you must obtain each one’s private keys. This will entirely depend on the wallet you use (QT example below) but for all core wallets there is generally an option for exporting private keys somewhere in there. Collect them all!
How to Export QT Wallet Private Keys:⛔️ — DISABLE INTERNET FOR SAFETY — ⛔️- Open the QT wallet client- Click on HELP in the menu bar- Click on DEBUG WINDOW- Click on the CONSOLE tab- Click inside the input box at the bottom(if your wallet is locked…)- Type: walletpassphrase [Password] 600(this unlocks your wallet for 10 minutes)- Type: dumpprivkey [Address]- Copy the output hash, paste it into a list somewhere.(repeat as needed, clear your clipboard history after)- Type: walletlock (if applicable)⚡ — RE-ENABLE YOUR INTERNET —
STEP 4 -- IMPORT ALL PRIVATE KEYS INTO RNG CORE WALLET
\** PLEASE VERIFY THAT EVERY CLAIM ADDRESS IS EMPTY BEFORE CONTINUING... ****
The final step is to simply import each of these private keys into the new Ring Core Wallet to claim your free RNG rewards. The wallet handles this part automatically and you will see your new RNG balance right away. You can find this option under the File > Import Private Keys menu.
Importing a private key is the only way to prove ownership of a crypto address so this is unavoidable if you want to claim new coins from it. The steps above will allow you to prove ownership of your snapshotted address balance plus use its empty key to then claim your new coins thus keeping your original coins completely protected in the brand new address with a new private key (which you should now also keep VERY private!)
By emptying the address before you import it’s private key you eliminate the risk of theft entirely. One cannot take from an already empty jar. It should also be noted to NEVER use the imported address again as an added safety precaution*!*
👏👏👏 DONE! ENJOY YOUR FREE MONEY! 👏👏👏

How Much RNG Will I Receive?

Litecoin Cash holders will receive the highest claim ratio (5000 LCC = 1 RNG) as the LCC team are the ones responsible for creating Ring and wanted to extend a heart-felt thank you to the LCC community for their years of support. All other coins will be based on a 1:1 ratio with the value of Bitcoin at the time of the fork. This of course means 1 BTC = 1 RNG. For DASH and DOGE, however, their BTC market prices will determine their reward ratios. (For example if DASH is trading at 0.015 BTC each, then each DASH coin will net you a reward of 0.015 RNG to match.) Of course you don't need whole coins to claim, partial decimals work just fine!

What Value Will RNG Have?

That, my friends, is entirely up to the markets. No one in the history of crypto has had a perfect track record of price predictions so I'm not even going to try here. I will say, though, having gotten to play with their Testnet a bit so far that I am very impressed with the new Proof-of-Play method and how they have initially implemented it. It bodes very good things for the future of their project and this coin so I personally would expect its value to hold and most likely rise steadily as more people become aware of this groundbreaking new tech and it's potential to expand outward!

Is Litecoin Cash Still Going To Exist?

Absolutely! At least, from what I can gather. LCC has it's own purposes and will continue to be developed on. Ring is not meant to be a replacement or upgrade of any kind to Litecoin Cash. It is an entirely different proofing algorithm and a different mission statement altogether. It's more so meant to help expose the amazing new technologies developed on the LCC blockchain to a wider audience beyond simply its own fan base. If anything it'll act a sister chain that can help expose more folks to LCC in the future!

Disclaimer

While I am a moderator for the Litecoin Cash Discord server, I am writing this from an independent point of view as an educated crypto enthusiast with a passion for helping others navigate these waters. Having been an initial forker and third party developer on top of LCC myself, I feel I have some valuable insight into the direction the team is taking and I wanted to offer some sound advice for the upcoming Ring fork before the FUD gets caked on too thick.
I know a lot of people get scared easily in crypto because of the rampant scamming that goes on but I've watched this team work their asses off for two years to get out from under the stain of Charlie Lee's very biased, uneducated "its a scam" tweet which was endlessly parroted throughout the Litecoin community with nothing but blind party loyalty and no due diligence. The LCC folks are kind, wonderful hard-working people with big hearts and ambition and they have actually developed a unique proofing methodology that is likely going to impress a lot of people!
So before you go jumping on the "it's just another shitcoin" bandwagon please stop and take a real hard look at both Litecoin Cash (LCC) and Ring (RNG): two viable projects with something to bring to the table! If nothing else, hey, just claim your new coins and dump them off for some free money. You literally cannot lose if you PRACTICE SAFE FORKING!!!
Good luck, cryptonauts!
=A=
submitted by auscoine to RingCoin [link] [comments]

Which are your Top 5 favourite coins out of the Top 100? An analysis.

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

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability currently, though the implementation of the Lightning Network looks promising and could alleviate most scalability concerns, scalability and high energy use.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  10. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  11. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  12. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  13. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte rebalances the load between the five mining algorithms by adjusting the difficulty of each so one algorithm doesn’t become dominant. The algorithm's asymmetric difficulty has gained notoriety and been deployed in many other blockchains.DigiByte’s adoption over the past four years has been slow. It’s still a relatively obscure currency compared its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  14. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

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

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Aion: Aion is the token that pays for services on the Aeternity platform.
  8. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.

Market 4 - Privacy

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

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Req: Exchange between cryptocurrencies.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

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

Market 7 - Misc

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

Market 8 - Social network

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

Market 9 - Fee token

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

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester., he requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, SAFE’s network uses advanced P2P technology to bring together the spare computing capacity of all SAFE users and create a global network. You can think of SAFE as a crowd-sourced internet. All data and applications reside in this network. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. The data is then randomly distributed across the network. Redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

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

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
EDIT: Added a risk factor from 0 to 10. The baseline is 2 for any crypto. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x, PIVX gets a 10 for being as good as Monero while carrying a 10x smaller market cap, which would make PIVX go 100x if Monero goes 10x.
submitted by galan77 to CryptoCurrency [link] [comments]

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your LCC Private Keys

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your LCC Private Keys

https://preview.redd.it/9csw52aw30d41.png?width=700&format=png&auto=webp&s=53ceb329c9772d7f0abbcc56b44ba405e34dd8a8
I’m a longtime blockchain enthusiast and developer and one of my biggest gripes about this space is how quickly every new project is widely dismissed as a “scam” or “shitcoin” by so many people before it even gets off the ground. Sure, there is a lot of uncharted territory with pirates lurking to steal your bags left and right but with a small amount of personal education you can exist safely in the world of crypto I promise! With this article I aim to help lift your knowledge a little higher while helping keep your funds a little safer!

So What Is Happening?

On Tuesday February 18, 2020 a new coin named Ring (RNG) will be minted. This coin aims to bring two unique and fresh methods of proofing to the crypto game, quite literally: Agent-Based Hive Mining (borrowed from LCC) and Proof-of-Play Mining, where literal gameplay is used to hash and reward miners! To celebrate and help spread the word, the team is giving away claims of free RNG to all holders of the following coins:
  • Litecoin Cash (LCC)
  • Bitcoin (BTC)
  • Dash (DASH)
  • Dogecoin (DOGE)
It's being touted as the world's first crypto "4-way fork" but I'd really call it more of a "4-way claim" since its a brand new chain and not based on the code of any of the rewarded coins. It's simply a clever method of allowing a wider range of coin holders a chance to participate in the launch of these exciting new features!

How Will This Process Work?

On the 18th of February, a balance snapshot will be taken of the four chains listed above. Anyone holding a balance with any of these coins at the time of the snapshot will be forever eligible to claim their RNG at any time. Because the only way to prove ownership of a crypto address is to supply the private keys, and pretty much EVERYONE will tell you to guard those things with your life, below I will outline exactly what to do so there is absolutely 0% risk of losing a single satoshi! This method will apply to ANY claim rewards of any coin in the future as well. Always practice #SafeForking!

How Do I Safely Claim My RNG?

STEP 1 -- BEFORE THE SNAPSHOT -- VERIFY ACCESS TO YOUR PRIVATE KEYS
All core wallets will allow you to export a private key of any address in your wallet but many third party services like exchanges and hot wallets do not allow access to them. In these cases you will need to send your funds out of the third party service and into some kind of personal wallet where you can reach the private keys yourself. Then just wait for the snapshot to happen…
To make things easier on yourself, you can optionally collect your original coins into as few addresses as possible BEFORE the snapshot. Doing so reduces the number of keys you will need to empty and import later. It’s just less work!
\** SNAPSHOT HAPPENS HERE... ****
STEP 2 -- ATER THE SNAPSHOT -- EMPTY ALL ADDRESSES YOU WISH TO CLAIM
After the snapshot is confirmed, withdraw all coins OUT of each of your origin coin addresses into brand new addresses leaving the original ones quite empty. This way when you import later there is NO risk of losing anything! Also know that after you import these private keys you should never use them again for safety’s sake! It’s kind of the whole reason you’re even reading this article in the first place.
STEP 3 -- EXPORT PRIVATE KEYS FOR ALL ADDRESS YOU WISH TO CLAIM
This is the most difficult part, are you ready? Once each claim address is confirmed to be EMPTY, you must obtain each one’s private keys. This will entirely depend on the wallet you use (QT example below) but for all core wallets there is generally an option for exporting private keys somewhere in there. Collect them all!
How to Export QT Wallet Private Keys:
⛔️ — DISABLE INTERNET FOR SAFETY — ⛔️
- Open the QT wallet client
- Click on HELP in the menu bar
- Click on DEBUG WINDOW
- Click on the CONSOLE tab
- Click inside the input box at the bottom
(if your wallet is locked…)
Type: walletpassphrase [Password] 600
(this unlocks your wallet for 10 minutes)
- Type: dumpprivkey [Address]
- Copy the output hash, paste it into a list somewhere.
(repeat as needed, clear your clipboard history after)
- Type: walletlock (if applicable)
⚡ — RE-ENABLE YOUR INTERNET — ⚡
DONE!
STEP 4 -- IMPORT ALL PRIVATE KEYS INTO RNG CORE WALLET
\** PLEASE VERIFY THAT EVERY CLAIM ADDRESS IS EMPTY BEFORE CONTINUING... ****
The final step is to simply import each of these private keys into the new Ring Core Wallet to claim your free RNG rewards. The wallet handles this part automatically and you will see your new RNG balance right away. You can find this option under the File > Import Private Keys menu.
Importing a private key is the only way to prove ownership of a crypto address so this is unavoidable if you want to claim new coins from it. The steps above will allow you to prove ownership of your snapshotted address balance plus use its empty key to then claim your new coins thus keeping your original coins completely protected in the brand new address with a new private key (which you should now also keep VERY private!)
By emptying the address before you import it’s private key you eliminate the risk of theft entirely. One cannot take from an already empty jar. It should also be noted to NEVER use the imported address again as an added safety precaution*!*
👏👏👏 DONE! ENJOY YOUR FREE MONEY! 👏👏👏

How Much RNG Will I Receive?

Litecoin Cash holders will receive the highest claim ratio (5000 LCC = 1 RNG) as the LCC team are the ones responsible for creating Ring and wanted to extend a heart-felt thank you to the LCC community for their years of support. All other coins will be based on a 1:1 ratio with the value of Bitcoin at the time of the fork. This of course means 1 BTC = 1 RNG. For DASH and DOGE, however, their BTC market prices will determine their reward ratios. (For example if DASH is trading at 0.015 BTC each, then each DASH coin will net you a reward of 0.015 RNG to match.) Of course you don't need whole coins to claim, partial decimals work just fine!

What Value Will RNG Have?

That, my friends, is entirely up to the markets. No one in the history of crypto has had a perfect track record of price predictions so I'm not even going to try here. I will say, though, having gotten to play with their Testnet a bit so far that I am very impressed with the new Proof-of-Play method and how they have initially implemented it. It bodes very good things for the future of their project and this coin so I personally would expect its value to hold and most likely rise steadily as more people become aware of this groundbreaking new tech and it's potential to expand outward!

Is Litecoin Cash Still Going To Exist?

Absolutely! At least, from what I can gather. LCC has it's own purposes and will continue to be developed on. Ring is not meant to be a replacement or upgrade of any kind to Litecoin Cash. It is an entirely different proofing algorithm and a different mission statement altogether. It's more so meant to help expose the amazing new technologies developed on the LCC blockchain to a wider audience beyond simply its own fan base. If anything it'll act a sister chain that can help expose more folks to LCC in the future!

Disclaimer

While I am a moderator for the Litecoin Cash Discord server, I am writing this from an independent point of view as an educated crypto enthusiast with a passion for helping others navigate these waters. Having been an initial forker and third party developer on top of LCC myself, I feel I have some valuable insight into the direction the team is taking and I wanted to offer some sound advice for the upcoming Ring fork before the FUD gets caked on too thick.
I know a lot of people get scared easily in crypto because of the rampant scamming that goes on but I've watched this team work their asses off for two years to get out from under the stain of Charlie Lee's very biased, uneducated "its a scam" tweet which was endlessly parroted throughout the Litecoin community with nothing but blind party loyalty and no due diligence. The LCC folks are kind, wonderful hard-working people with big hearts and ambition and they have actually developed a unique proofing methodology that is likely going to impress a lot of people!
So before you go jumping on the "it's just another shitcoin" bandwagon please stop and take a real hard look at both Litecoin Cash (LCC) and Ring (RNG): two viable projects with something to bring to the table! If nothing else, hey, just claim your new coins and dump them off for some free money. You literally cannot lose if you PRACTICE SAFE FORKING!!!
Good luck, cryptonauts!
=A=
submitted by auscoine to LCCofficial [link] [comments]

Nuv mining | Can You Creat a Ton Of Money Via Bitcoin Mining?

Consumers, investors, fanatics or even technology smart geeks may be wonderful Bitcoin enthusiasts. They can even follow all Bitcoin information as well as have a solitary inquiry in mind. People might simply want to figure out, whether an optimistic future can be taken of mining different cryptocurrencies. Well, it's not a trick or stunning paid announcement. Mining of cryptocurrencies can be a smart step, aside from being a financially rewarding one. And also the appeal of Bitcoin market can not be denied as well. The Bitcoin boom of 2013 and its huge rise in value brought about its reputation. The roller-coaster ride of Bitcoin as well as the other cryptocurrencies, called as Altcoins, discovered a location of reputation in each dictionary of the world. Digital currencies have actually earned adequate direct exposure, and a mining occupation including them can really supply earnings. The miners nevertheless, have to have three points - adequate time, adequate money and an unequaled perseverance.
nuv mining
The initial hurdle involves the option of a cryptocurrency. A fanatic can go on to mine Bitcoin. Or instead pick to extract other readily available cryptocurrencies, Dogecoin, Litecoin or Peercoin. In other words, miners have a lot of options. Comparable to stock, even cryptocurrencies have classifications, blue chip or dime. Mining the blue chip category is commonly associated with security, integrity and a greater amount of profit. Financial on these attributes, individuals are much more inclined towards Bitcoin mining, even if it includes utilizing an enormous computer power. Altcoins, on the other hand, can also offer a fair gain as algorithms are less complex. However with Altcoins, simplicity of mining as well as the potential gains are not always proportional.
nuvmining
Hardware is an element that begins to disclose the real examination. Also a techno-savvy miner can not refute the Bitcoin problem linked to brand-new block generation. The point is to decide upon the computing power to be used. For Bitcoins, algorithms have come to be difficult to hash. Thus, GPUs of gigantic power combined with high-end RAMs and also reputable hard disk drives have to do all the task. The point is to hash at a quick price. Several high-end GPUs running together can speed up block generation and also consequently the payouts. On the various other hand, picking an item of software could not be as tricky. Windows can be selected as the required OS, yet open-source Linux does a far better job. One more demand is a digital wallet. Extracted money have to be kept. One can keep it locally on hard-drive or remotely online. A miner just has to select wisely.
With hardware and software in position, the task of mining begins. A miner may do it all alone, as well as collect all advantages. However the gear has to be tremendously effective. So it's fairly doubtful. Mining pools appear to be a sensible solution as people team up to contribute hash power and makers. Thus coins obtain extracted at a great speed. Collaborating has its advantages; miners get their reasonable share. Multipool is an economical choice. If Altcoin mining is to be embarked on, Middlecoin should be the miner's choice. So with all the active ingredients in place, a profitable mining gear can start. First investment may seem overwhelming, however the earnings are worthwhile!
submitted by Nuvmining to u/Nuvmining [link] [comments]

Subreddit Stats: CryptoCurrency top posts from 2018-12-29 to 2019-12-28 21:31 PDT

Period: 364.36 days
Submissions Comments
Total 1000 166290
Rate (per day) 2.74 453.02
Unique Redditors 660 27058
Combined Score 792038 1162121

Top Submitters' Top Submissions

  1. 26553 points, 23 submissions: Kashpantz
    1. When you are a known scammer in the crypto space and get called out by one of your investors. Exciting times indeed. (2573 points, 239 comments)
    2. The Gloves Are Off. Ripple laying into J.P Morgan As They Enter The Crypto Space. (2087 points, 556 comments)
    3. The Scam That Is Volitility & Fees (2076 points, 322 comments)
    4. Pretty much this sums it up for crypto and politics. (1836 points, 118 comments)
    5. Don't look at ATHs, the story starts when you look at ATLs. (1777 points, 223 comments)
    6. Is this unjust? Where a bank can shut you down for investing in the cannabis industry even if it's legal in your country or state? A perfect use case for crypto where it is borderless and censorship resistant. No longer the banks are the gatekeepers of our own money. (1656 points, 280 comments)
    7. Some Simple Tips to Avoid Traps in the Crypto Sphere. (1565 points, 251 comments)
    8. Complaining about a bear market will get you nowhere. Step back and always look at the bigger picture of what is being built. Good tech takes time. (1470 points, 281 comments)
    9. What kind of money do you want? Permissioned or Controlled? We still have time to decide. (1405 points, 310 comments)
    10. Network Values. Who has raised the most are often not the most important. What's the point of all of this? (1241 points, 218 comments)
  2. 17706 points, 3 submissions: mtimetraveller
    1. The true power of Bitcoin 🔥 (14644 points, 1280 comments)
    2. Microsoft Excel recognizes Bitcoin as a currency (2627 points, 164 comments)
    3. Anthony Pompliano is calling on all #cryptocurrency exchanges to delete #BitcoinSV on May 1, 2019, as a repudiation of the claims of #CraigWright and Calvin Ayre that #BSV is the “real Bitcoin.” (435 points, 130 comments)
  3. 11600 points, 13 submissions: coinsmash1
    1. Andrew Yang wants to Employ Blockchain in voting. "It’s ridiculous that in 2020 we are still standing in line for hours to vote in antiquated voting booths. It is 100% technically possible to have fraud-proof voting on our mobile phone" (4351 points, 586 comments)
    2. Bitcoin vs Gold - $180 billion vs ~$7 trillion market cap... (1551 points, 285 comments)
    3. Number of confirmed Bitcoin transactions per day hits highest level since last bull run (1132 points, 270 comments)
    4. Litecoin hits $125 as mining hash rate reaches new all-time high (983 points, 325 comments)
    5. Bitcoin at $8,000 (759 points, 172 comments)
    6. Just checking I got this; you can now cryptographically audit the ‘locked’ holdings of $600 million worth of BTC, ETH and Dai—and it looks like this has been in a bull market since Oct 2017... (512 points, 58 comments)
    7. $100 million in Liquidations over the last 6 hours ($60m Shorts vs 40m Longs) (485 points, 150 comments)
    8. 2020 presidential candidate Andrew Yang talks Bitcoin and Blockchain (432 points, 269 comments)
    9. $79 million worth of shorts liquidated 🥺 (349 points, 58 comments)
    10. Ouch, $28 mil of shorts just got squeezed into liquidation (313 points, 64 comments)
  4. 9313 points, 1 submission: flafel
    1. Ladies and gentlemen, $10,000 = 1 Bitcoin once again. (9313 points, 612 comments)
  5. 8750 points, 6 submissions: 1Lost_King1
    1. This is just priceless! (3989 points, 299 comments)
    2. We'll he is kind right! (1977 points, 202 comments)
    3. Yellow vests, Paris! (1202 points, 80 comments)
    4. Coinbase now has more than 30 million users! (909 points, 132 comments)
    5. Crypto is the way! (364 points, 59 comments)
    6. Strong words! (309 points, 81 comments)
  6. 8063 points, 8 submissions: jam-hay
    1. Facebook unveils ‘its most invasive and dangerous form of surveillance yet’ with launch of Libra cryptocurrency (2684 points, 369 comments)
    2. Apple CEO Tim Cook slams Facebook’s Libra cryptocurrency as a power grab (1209 points, 145 comments)
    3. Truth be told, this isnt the best entry point for no-coiners new to the sub to start buying into crypto for the first time so please exercise caution. (1134 points, 268 comments)
    4. President Xi Says China Should ‘Seize Opportunity’ to Adopt Blockchain (1115 points, 206 comments)
    5. Booking.com becomes latest firm to drop out of Facebook's Libra cryptocurrency (874 points, 82 comments)
    6. Tomorrow it will be a DECADE since Satoshi created the genesis block and Bitcoin will be 10 years old! (574 points, 55 comments)
    7. This classic from former IMF, World Bank & Federal Reserve Economist that predicted the financial crisis of 2008 (244 points, 69 comments)
    8. Facebooks Libra runs into immediate opposition in Europe (229 points, 92 comments)
  7. 7547 points, 5 submissions: hodlorcrypt
    1. Hope you guys have better plans for this evening than this (2952 points, 182 comments)
    2. Someone doesn't belong here... (1657 points, 321 comments)
    3. How it feels sometimes when reading the /CryptoCurrency Daily Discussion (1559 points, 297 comments)
    4. Happy Friday everyone. Hope you all have a green weekend! (1094 points, 98 comments)
    5. A lighthearted reminder not to spend more than you can afford (285 points, 41 comments)
  8. 7112 points, 7 submissions: Fly115
    1. Elon Musk tweets 'Ethereum' (2908 points, 459 comments)
    2. Don't get poor slowly (1861 points, 302 comments)
    3. I made a Cryptocurrency tracking spreadsheet complete with live crypto price updates, moon math, and a full history of your Portfolio and trading performance (Updated). (1151 points, 133 comments)
    4. Jordan Peterson tweets - "Time magazine praises Bitcoin as a potential bastion of freedom" (468 points, 383 comments)
    5. Elon Musk: Dogecoin rulz (256 points, 26 comments)
    6. A single Bitcoin Cash address is responsible for nearly 50 percent of the networks transactions in the past month. (250 points, 87 comments)
    7. Trade volume on Bakkt is at new highs. (218 points, 87 comments)
  9. 6814 points, 1 submission: dinono33
    1. This is why adoption and the US is so behind when it comes to Bitcoin and Cryptocurrency. Have a look at this shocking video from Congress. (6814 points, 720 comments)
  10. 6770 points, 1 submission: YoJoee
    1. Sarah nailed it. (6770 points, 397 comments)

Top Commenters

  1. Toyake (10153 points, 709 comments)
  2. throwawayLouisa (7600 points, 1241 comments)
  3. martinkarolev (5838 points, 106 comments)
  4. bortkasta (5216 points, 640 comments)
  5. Qwahzi (4961 points, 476 comments)
  6. bLbGoldeN (4535 points, 426 comments)
  7. hungryforitalianfood (4148 points, 334 comments)
  8. Trident1000 (3469 points, 309 comments)
  9. 500239 (3372 points, 606 comments)
  10. UpDown (3118 points, 346 comments)

Top Submissions

  1. The true power of Bitcoin 🔥 by mtimetraveller (14644 points, 1280 comments)
  2. Ladies and gentlemen, $10,000 = 1 Bitcoin once again. by flafel (9313 points, 612 comments)
  3. This is why adoption and the US is so behind when it comes to Bitcoin and Cryptocurrency. Have a look at this shocking video from Congress. by dinono33 (6814 points, 720 comments)
  4. Sarah nailed it. by YoJoee (6770 points, 397 comments)
  5. Trump: “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.” by Tmfallon (6285 points, 1648 comments)
  6. How I successfully converted $1200 into $340 with crypto! by warnakey (5012 points, 582 comments)
  7. Andrew Yang wants to Employ Blockchain in voting. "It’s ridiculous that in 2020 we are still standing in line for hours to vote in antiquated voting booths. It is 100% technically possible to have fraud-proof voting on our mobile phone" by coinsmash1 (4351 points, 586 comments)
  8. The inevitable by AceOrigins (4342 points, 364 comments)
  9. Over last 3 years, Wells Fargo bank got caught. Paid gov’t $2.7 billion in total fines, penalties for ripoffs. Yet bank’s profit over same 3 years = $ 60 billion. Total fines, penalties = 4.7% of profits. Trivial. No wonder banks keep ripping us off. by skythe4 (4245 points, 215 comments)
  10. $12,000 by Phitzdisco666 (4173 points, 641 comments)

Top Comments

  1. 2212 points: absoluteknave's comment in Wife of Norwegian billionaire kidnapped – Ransom to be paid in monero ($10.3 million)
  2. 1668 points: thekiyote's comment in When BTC reached $8k in 2017, it reached $18k within 20 days
  3. 1655 points: Metalgear_ray's comment in BTC Dump: Pure Whale Manipulation
  4. 1460 points: flunky_the_majestic's comment in Isn't it scary? What do you think of this?
  5. 1272 points: Jobsternz's comment in How I successfully converted $1200 into $340 with crypto!
  6. 1204 points: CarpetThorb's comment in 99% of you won't hold through the entirety of the next bull run
  7. 1068 points: Brunswickstreet's comment in Justin Sun Not Giving the Tesla to The Winner they Announced First
  8. 1024 points: Lard_of_Dorkness's comment in Elon Musk tweets 'Ethereum'
  9. 1023 points: martinkarolev's comment in Still in its adolescence ...
  10. 957 points: willzyx01's comment in 99% of you won't hold through the entirety of the next bull run
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

Andreas Antonopoulos gets "Satoshi's Vision" completely wrong and shows his misunderstanding of the system. He thinks 1 cpu 1 vote means 1 user 1 vote, a common mistake from people on the Core side.

In this video at the 6m20s mark Andreas Antonopoulos speaks about Satoshi's vision. He speaks about "1 cpu 1 vote" saying that Satoshi designed the system to be decentralized as possible, but Andreas completely misunderstands the meaning of 1 cpu 1 vote. He is falling into the common trap of conflating 1cpu 1 vote with 1 user 1 vote.
Andreas, haven't you even read nChains paper about POW and Theory of the Firm? A cpu is an economic resource:
One of the little-known aspects of bitcoin is the nature of the proof of work system. There are many people, especially those who support a UASF or PoW change that believe a distributed system should be completed as a mesh. In this, they confuse centralised systems with centrality. The truth of the matter, no matter which proof of work system is implemented, they all follow a maximal growth curve that reflects the nature of the firm as detailed in 1937 by Ronald Coase (1937).
The bitcoin White Paper was very specific. users of the system "vote with their CPU power" [1]. What this means, is that the system was never generated to give one vote per person. It is designed purely around economic incentives individuals with more hash power will have provided more investment into the system. These individuals who invest more in the system gain more say in the system. At the same time, no one or even two individuals can gain complete control of the system. We'll explore the nature of cartels in a separately, but these always fail without government intervention. The reason for cartels failing comes down to the simple incentivisation of the most efficient member. The strongest cartel member always ends up propping up the weakest. This leads to a strategy of defection.
No proof of work-based solution ever allows for a scenario where you have one vote to one person. The anti-sybiling functions of bitcoin and all other related systems based on proof of work or similar derivatives are derived from an investment based strategy. Solutions to the implementation of ASIC based systems are constantly proposed as a methodology of limiting the centralisation of proof of work systems as it is termed. The truth of the matter is that the mining function within any proof of work system naturally aligns to business interests. This leads to corporations running machines within data centres. On the way that democracies and republics have migrated away from small groups of people individually voting for an outcome towards a vote for a party, the transactional costs associated with individual choice naturally leads to corporate solutions. In this, the corporation mirrors a political party.
In this paper, we address the issues of using alternate approval work systems with regards to either incorporating alternate functions in an extension of simply securing the network against the use of proof of work systems to create a one person one vote scenario in place of economic incentivisation. We will demonstrate conclusively that all systems migrate to a state of economic efficiency. The consequence of this is that systems form into groups designed to maximise returns. The effect is that bitcoin is not only incentive compatible but is optimal. No system can efficiently collapse into an order of one vote one individual and remain secure. In the firm-based nature of bitcoin, we demonstrate that the inherent nature of the firm is reflected within mining pools. Multiple aggregation strategies exist. The strategies range from the creation of collective firms where members can easily join or leave (mining pools) through to more standard corporate structures
Proof of Work as it relates to the theory of the firm. that are successful within any proof of work system. The system was determined to be based on one- vote per CPU (Satoshi, 2008) and not one vote per person or one vote per IP address. The reasons for this is simple, there is no methodology available that can solve byzantine consensus on an individual basis. The solution developed within bitcoin solves this economically using investment. The parties signal their intent to remain bound to the protocol through a significant investment. Those parties that follow the protocol are rewarded. The alternative strategy takes us back to the former and failed systems such as e-cash that could not adequately solve Sybil attacks and decentralise the network. Bitcoin manages to maintain the decentralise nature of the network through a requirement that no individual party can ever achieve more than 50% of the network hash rate.
In all proof of work systems, there are requirements to inject a costly signal into the network that is designed as the security control. To many people, they believe that the cryptographic element, namely the hashing process is the security feature of bitcoin. This is a fallacy, it is the economic cost that is relevant to the overall system and not the individual element.
The benefits of a hash function are that they are difficult to solve in the nature of the proof of work algorithm but are easy to verify. This economic asymmetry is one of the key features of bitcoin. Once a user has found a solution, they know it can be quickly broadcast and verified by others. Additionally, the hash algorithm provides a fair distribution system based on the amount of invested hash rate. The distinction from proof of stake solution as has been proposed comes in the requirement to constantly reinvest. A proof of stake system requires a single investment. Once this investment is created, the system is incentivised towards the protection of the earlier investment. This leads to a scenario known as a strategic oligopoly game.
The solution using a proof of work algorithm is the introduction of an ongoing investment. This is different to an oligopoly game in that sunk cost cannot make up for continued investment. In a proof of stake system, prior investment is crystallised allowing continued control with little further investment. Proof of work differs in that it requires continuous investment. More than this, it requires innovation. As with all capitalist systems, they are subject to Schumpeterian dynamical change (Shumpeter, 1994). The system of creative destruction allows for cycles of innovation. Each innovation leads to waves of creation over the destruction of the old order.
This process creates continued growth. Proof of work-based systems continue to grow and continue to update and change. Any incumbent corporation or other entity needs to continue to invest knowing that their continued dominance is not assured. In bitcoin, we have seen innovative leaps as people moved from CPU-based mining into GPU-based systems. This initial innovation altered the software structure associated with the mining process in bitcoin. That change significantly altered the playing field leading to novel techniques associated with FPGAs and later ASICs dedicated to a specific part of the mining process.
The error held by many people is that this move from a CPU-based solution into more costly implementations could have been averted. A consequence of this has been the introduction of alternative proof of work systems into many of the alt-coins
These systems have been implemented without the understanding that it is not the use of ASICs that is an issue. It is that the belief that individual users can individually mine in a mesh system will be able to be implemented as a successful proof of work. In the unlikely event that a specialised algorithm was implemented that could only run once on any one machine CPU, it would still lead to the eventual creation of corporate data centres for mining. In the section above, we showed using Arrow’s theorem how only a single use proof of work system can be effective. If we extend this and look at the Theory of the Firm (Coase, 1937) we note that in a system in Litecoin and Dogecoin for example. A00137:
Proof of Work as it relates to the theory of the firm. of prices, reduction could be carried out without any organisation. One issue against this arises from the cost of information. Interestingly, as we move into a world of increasingly more information, it becomes scarce information that is important. As the amount of information becomes more voluminous, the ability to uncover accurate and timely information becomes scarcer. The ability to specialise in the coordination of the various factors of production and the distribution of information leads towards vertical integration within firms. We see this first voiced in Adam Smith’s (Smith, 1776) postulation on the firm:
Everyone can choose to either seek further information or act on the information that they already have. This information can be in the form of market knowledge, product knowledge, or expertise, but at some point, the individual needs to decide to act. There is a cost to obtaining information. The returns on obtaining more information hit a maximum level and start to decrease at a certain point. The entrepreneur acts as a guiding influence managing the risk associated with incomplete information compared to the risk of not acting but rather waiting to obtain more information.
In the instance of bitcoin mining, the firm can increase in size through the integration of multiple specialist roles. Even given the assumption that any one process can run on but a single CPU, we come to the scenario of high-end datacentre servers. The Intel Xeon Phi 7290f implements 72 Atom CPU Cores. Each core runs two threads. Even taking the control system into account, this leaves 142 processes able to run per system. With four cards per RU this allows for datacentre implementations of 5,964 mining processes to run on a pure CPU-based proof of work implementation. One person can manage a small number of mining server implementations within a home or small business environment. In large data centre-based organisations such as Facebook, a single administrator can run 20,000 servers
The effect of this would be one individual managing 2,840,000 individual CPU-based mining processes. This alone is outside the scaling capabilities of any individual. This can be further enhanced as cost savings through the creation of large data centres, management savings and integrating multiple network and systems administrators is considered. As we start to add additional layers we come to a maximum where it is no longer profitable to grow the firm in size. Right up until that point, the firm will grow.
submitted by cryptorebel to btc [link] [comments]

CoinPot miner  bitcoin , dogecoin , litecoin  Cpu mining ... What Is BitCoin Mining? and Should You Mine? Unlimited Doge coin or bitcoin or crypto tricks and ... Legit Mining Site Bitcoin Mining 2019 - Should We Mine Bitcoin? - YouTube

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