mining profitability - Pool Hopping Math - Bitcoin Stack

Default English word list

Alright so, I took the default database from there https://skribbliohints.github.io/ and with the help of html, I extracted the words to a list separated by commas. It's useful when you want to translate those words into your native language.
Word of advice, when using google translate, do not put all words at once there, it can rapidly worsen the translation.
(And there is a last thing. Their algorithm of picking only custom words is not working really good, at least for me. Meaning that I often get duplicates, despite having a list this big and without duplicates. I'm still trying to find some solution to this, so if somebody is experiencing this as well, share the knowledge please, I will do the same.)
SOLUTION: Thanks for the reply from PepegaWR who identified the cause. I also tested it and there seems to be a custom words limit of 5000 characters. The easiest way in my opinion is to shuffle the words before each session to minimize the impact. Also thanks to the flynger who had the same idea before me :)
Finally, here it is, enjoy the scribbling ^^ :

ABBA, AC/DC, Abraham Lincoln, Adidas, Africa, Aladdin, America, Amsterdam, Android, Angelina Jolie, Angry Birds, Antarctica, Anubis, Apple, Argentina, Asia, Asterix, Atlantis, Audi, Australia, BMW, BMX, Bambi, Band-Aid, Barack Obama, Bart Simpson, Batman, Beethoven, Bible, Big Ben, Bill Gates, Bitcoin, Black Friday, Bomberman, Brazil, Bruce Lee, Bugs Bunny, Canada, Capricorn, Captain America, Cat Woman, Cerberus, Charlie Chaplin, Chewbacca, China, Chinatown, Christmas, Chrome, Chuck Norris, Colosseum, Cookie Monster, Crash Bandicoot, Creeper, Croatia, Cuba, Cupid, DNA, Daffy Duck, Darwin, Darwin Watterson, Deadpool, Dexter, Discord, Donald Duck, Donald Trump, Dora, Doritos, Dracula, Dumbo, Earth, Easter, Easter Bunny, Egypt, Eiffel tower, Einstein, Elmo, Elon Musk, Elsa, Eminem, England, Europe, Excalibur, Facebook, Family Guy, Fanta, Ferrari, Finn, Finn and Jake, Flash, Florida, France, Frankenstein, Fred Flintstone, Gandalf, Gandhi, Garfield, Germany, God, Goofy, Google, Great Wall, Greece, Green Lantern, Grinch, Gru, Gumball, Happy Meal, Harry Potter, Hawaii, Hello Kitty, Hercules, Hollywood, Home Alone, Homer Simpson, Hula Hoop, Hulk, Ikea, India, Intel, Ireland, Iron Giant, Iron Man, Israel, Italy, Jack-o-lantern, Jackie Chan, James Bond, Japan, JayZ, Jenga, Jesus Christ, Jimmy Neutron, John Cena, Johnny Bravo, KFC, Katy Perry, Kermit, Kim Jong-un, King Kong, Kirby, Kung Fu, Lady Gaga, Las Vegas, Lasagna, Lego, Leonardo DiCaprio, Leonardo da Vinci, Lion King, London, London Eye, Luigi, MTV, Madagascar, Mario, Mark Zuckerberg, Mars, McDonalds, Medusa, Mercedes, Mercury, Mexico, Michael Jackson, Mickey Mouse, Microsoft, Milky Way, Minecraft, Miniclip, Minion, Minotaur, Mona Lisa, Monday, Monster, Mont Blanc, Morgan Freeman, Morse code, Morty, Mount Everest, Mount Rushmore, Mozart, Mr. Bean, Mr. Meeseeks, Mr Bean, Mr Meeseeks, Mummy, NASCAR, Nasa, Nemo, Neptune, Netherlands, New Zealand, Nike, Nintendo Switch, North Korea, Northern Lights, Norway, Notch, Nutella, Obelix, Olaf, Oreo, Pac-Man, Paris, Patrick, Paypal, Peppa Pig, Pepsi, Phineas and Ferb, Photoshop, Picasso, Pikachu, Pink Panther, Pinocchio, Playstation, Pluto, Pokemon, Popeye, Popsicle, Porky Pig, Portugal, Poseidon, Pringles, Pumba, Reddit, Rick, Robbie Rotten, Robin Hood, Romania, Rome, Russia, Samsung, Santa, Saturn, Scooby Doo, Scotland, Segway, Sherlock Holmes, Shrek, Singapore, Skittles, Skrillex, Skype, Slinky, Solar System, Sonic, Spain, Spartacus, Spiderman, SpongeBob, Squidward, Star Wars, Statue of Liberty, Steam, Stegosaurus, Steve Jobs, Stone Age, Sudoku, Suez Canal, Superman, Susan Wojcicki, Sydney Opera House, T-rex, Tails, Tarzan, Teletubby, Terminator, Tetris, The Beatles, Thor, Titanic, Tooth Fairy, Tower Bridge, Tower of Pisa, Tweety, Twitter, UFO, USB, Uranus, Usain Bolt, Vatican, Vault boy, Velociraptor, Venus, Vin Diesel, W-LAN, Wall-e, WhatsApp, William Shakespeare, William Wallace, Winnie the Pooh, Wolverine, Wonder Woman, Xbox, Xerox, Yin and Yang, Yoda, Yoshi, Youtube, Zelda, Zeus, Zorro, Zuma, abstract, abyss, accident, accordion, ace, acid, acne, acorn, action, actor, addiction, addition, adorable, adult, advertisement, afro, afterlife, air conditioner, airbag, aircraft, airplane, airport, alarm, albatross, alcohol, alien, allergy, alley, alligator, almond, alpaca, ambulance, anaconda, anchor, angel, anglerfish, angry, animation, anime, ant, anteater, antelope, antenna, anthill, antivirus, anvil, apartment, apocalypse, applause, apple, apple pie, apple seed, apricot, aquarium, arch, archaeologist, archer, architect, aristocrat, arm, armadillo, armor, armpit, arrow, ash, assassin, assault, asteroid, astronaut, asymmetry, athlete, atom, attic, audience, autograph, avocado, axe, baboon, baby, back pain, backbone, backflip, backpack, bacon, bad, badger, bag, bagel, bagpipes, baguette, bait, bakery, baklava, balance, balcony, bald, ball, ballerina, ballet, balloon, bamboo, banana, bandage, bandana, banjo, bank, banker, bar, barbarian, barbecue, barbed wire, barber, barcode, bark, barn, barrel, bartender, base, basement, basket, basketball, bat, bathroom, bathtub, battery, battle, battleship, bayonet, bazooka, beach, beak, bean, bean bag, beanie, beanstalk, bear, bear trap, beatbox, beaver, bed, bed bug, bed sheet, bedtime, bee, beef, beer, beet, beetle, bell, bell pepper, bellow, belly, belly button, below, belt, bench, betray, bicycle, bill, billiards, bingo, binoculars, biology, birch, bird, bird bath, birthday, biscuit, bite, black, black hole, blackberry, blacksmith, blanket, bleach, blender, blimp, blind, blindfold, blizzard, blood, blowfish, blue, blueberry, blush, boar, board, boat, bobsled, bodyguard, boil, bomb, booger, book, bookmark, bookshelf, boomerang, boots, border, bottle, bottle flip, bounce, bouncer, bow, bowl, bowling, box, boy, bracelet, braces, brain, brainwash, branch, brand, bread, breakfast, breath, brick, bricklayer, bride, bridge, broadcast, broccoli, broken heart, bronze, broom, broomstick, brownie, bruise, brunette, brush, bubble, bubble gum, bucket, building, bulge, bull, bulldozer, bullet, bumper, bungee jumping, bunk bed, bunny, burglar, burp, burrito, bus, bus driver, bus stop, butcher, butler, butt cheeks, butter, butterfly, button, cab driver, cabin, cabinet, cactus, cage, cake, calendar, camel, camera, campfire, camping, can, can opener, canary, candle, canister, cannon, canyon, cap, cape, cappuccino, captain, car wash, cardboard, carnival, carnivore, carpenter, carpet, carrot, cartoon, cash, casino, cast, cat, catalog, catapult, caterpillar, catfish, cathedral, cauldron, cauliflower, cave, caveman, caviar, ceiling, ceiling fan, celebrate, celebrity, cell, cell phone, cello, cement, centaur, centipede, chain, chainsaw, chair, chalk, chameleon, champagne, champion, chandelier, charger, cheek, cheeks, cheerleader, cheese, cheeseburger, cheesecake, cheetah, chef, chemical, cherry, cherry blossom, chess, chest, chest hair, chestnut, chestplate, chew, chicken, chihuahua, child, chime, chimney, chimpanzee, chin, chinchilla, chocolate, chopsticks, church, cicada cigarette, cinema, circle, circus, clap, clarinet, classroom, claw, clay, clean, clickbait, cliff, climb, cloak, clock, cloth, clothes hanger, cloud, clover, clown, clownfish, coach, coal, coast, coast guard, coaster, coat, cobra, cockroach, cocktail, coconut, cocoon, coffee, coffee shop, coffin, coin, cola, cold, collapse, collar, color-blind, comb, comedian, comedy, comet, comfortable, comic book, commander, commercial, communism, community, compass, complete, computer, concert, condiment, cone, confused, console, continent, controller, conversation, cookie, cookie jar, copper, copy, coral, coral reef, cord, cork, corkscrew, corn, corn dog, corner, cornfield, corpse, cotton, cotton candy, country, cousin, cow, cowbell, cowboy, coyote, crab, crack, crate, crawl space, crayon, cream, credit, credit card, cricket, cringe, crocodile, croissant, crossbow, crow, crowbar, crucible, cruise, crust, crystal, cube, cuckoo, cucumber, cup, cupboard, cupcake, curry, curtain, cushion, customer, cut, cute, cyborg, cylinder, cymbal, dagger, daisy, dalmatian, dance, dandelion, dandruff, darts, dashboard, daughter, day, dead, deaf, deep, deer, defense, delivery, demon, demonstration, dent, dentist, deodorant, depressed, derp, desert, desk, desperate, dessert, detective, detonate, dew, diagonal, diagram, diamond, diaper, dice, dictionary, die, diet, dig, dinner, dinosaur, diploma, dirty, disaster, disease, dishrag, dispenser, display, diss track, distance, diva, divorce, dizzy, dock, doctor, dog, doghouse, doll, dollar, dollhouse, dolphin, dome, dominoes, donkey, door, doorknob, dots, double, dough, download, dragon, dragonfly, drain, drama, drawer, dream, dress, drink, drip, drive, driver, drool, droplet, drought, drum, drum kit, duck, duct tape, duel, dwarf, dynamite, eagle, ear, earbuds, earthquake, earwax, east, eat, echo, eclipse, eel, egg, eggplant, elbow, elder, election, electric car, electric guitar, electrician, electricity, elephant, elevator, embers, emerald, emoji, employer, emu, end, engine, engineer, equator, eraser, error, eskimo, espresso, evaporate, evening, evolution, exam, excavator, exercise, explosion, eye, eyebrow, eyelash, eye shadow, fabric, fabulous, facade, face, face paint, factory, failure, fairy, fake teeth, fall, family, farm, farmer, fashion designer, fast, fast food, fast forward, father, faucet, feather, fence, fencing, fern, festival, fidget spinner, field, figurine, filmmaker, filter, finger, fingernail, fingertip, fire alarm, fire hydrant, fire truck, fireball, firecracker, firefighter, firefly, firehouse, fireman, fireplace, fireproof, fireside, firework, fish, fish bowl, fisherman, fist fight, fitness trainer, fizz, flag, flagpole, flamethrower, flamingo, flashlight, flask, flea, flight attendant, flock, floodlight, floppy disk, florist, flower, flu, fluid, flush, flute, fly, fly swatter, flying pig, fog, foil, folder, food, forehead, forest, forest fire, fork, fort, fortress, fortune, fossil, fountain, fox, frame, freckles, freezer, fridge, fries, frog, frostbite, frosting, frown, fruit, full, full moon, funeral, funny, fur, furniture, galaxy, gang, gangster, garage, garbage, garden, gardener, garlic, gas, gas mask, gasoline, gasp, gate, gem, gender, generator, genie, gentle, gentleman, geography, germ, geyser, ghost, giant, gift, giraffe, girl, gladiator, glass, glasses, glitter, globe, gloss, glove, glow, glowstick, glue, glue stick, gnome, goal, goat, goatee, goblin, godfather, gold, gold chain, golden apple, golden egg, goldfish, golf, golf cart, good, goose, gorilla, graduation, graffiti, grandmother, grapefruit, grapes, graph, grass, grasshopper, grave, gravedigger, gravel, graveyard, gravity, greed, grenade, grid, grill, grin, groom, grumpy, guillotine, guinea pig, guitar, gumball, gummy, gummy bear, gummy worm, hacker, hair, hair roller, hairbrush, haircut, hairspray, hairy, half, halo, ham, hamburger, hammer, hammock, hamster, hand, handicap, handle, handshake, hanger, happy, harbor, hard, hard hat, harmonica, harp, harpoon, hashtag, hat, hazard, hazelnut, head, headache, headband, headboard, heading, headphones, health, heart, heat, hedgehog, heel, heist, helicopter, hell, helmet, hen, hermit, hero, hexagon, hibernate, hieroglyph, high five, high heels, high score, highway, hilarious, hill, hip hop, hippie, hippo, hitchhiker, hive, hobbit, hockey, holiday, homeless, honey, honeycomb, hoof, hook, hop, hopscotch, horizon, horn, horse, horsewhip, hose, hospital, hot, hot chocolate, hot dog, hot sauce, hotel, hourglass, house, hovercraft, hug, hummingbird, hunger, hunter, hurdle, hurt, husband, hut, hyena, hypnotize, iPad, iPhone, ice, ice cream, ice cream truck, iceberg, icicle, idea, imagination, impact, incognito, industry, infinite, injection, insect, inside, insomnia, internet, intersection, interview, invasion, invention, invisible, iron, island, ivy, jacket, jackhammer, jaguar, jail, jalapeno, janitor, jaw, jazz, jeans, jeep, jello, jelly, jellyfish, jester, jet ski, joker, journalist, journey, judge, juggle, juice, jump rope, jungle, junk food, kangaroo, karaoke, karate, katana, kazoo, kebab, keg, kendama, ketchup, kettle, key, keyboard, kidney, kindergarten, king, kiss, kitchen, kite, kitten, kiwi, knee, kneel, knife, knight, knot, knuckle, koala, kraken, label, laboratory, ladder, lady, ladybug, lake, lamb, lamp, landlord, landscape, lane, language, lantern, lap, laptop, laser, lasso, laundry, lava, lava lamp, lawn mower, lawyer, leader, leaf, leak, leash, leather, leave, leech, legs, lemon, lemonade, lemur, lens, leprechaun, lettuce, levitate, librarian, library, licorice, lid, light bulb, lighter, lighthouse, lightning, lightsaber, lily, lilypad, limbo, lime, limousine, line, link, lion, lips, lipstick, litter box, lizard, llama, loading, loaf, lobster, lock, log, logo, lollipop, loot, loser, lotion, lottery, lounge, love, low, luck, luggage, lumberjack, lung, lynx, lyrics, macaroni, machine, macho, mafia, magazine, magic, magic trick, magic wand, magician, magma, magnet, magnifier, maid, mailbox, mailman, makeup, mall, mammoth, manatee, manhole, manicure, mannequin, mansion, mantis, map, maracas, marathon, marble, margarine, marigold, market, marmalade, marmot, marshmallow, mascot, mask, massage, match, matchbox, mattress, mayonnaise, mayor, maze, meal, meat, meatball, meatloaf, mechanic, meerkat, megaphone, melon, melt, meme, mermaid, message, messy, metal, meteorite, microphone, microscope, microwave, midnight, military, milk, milkman, milkshake, mime, miner, minigolf, minivan, mint, minute, mirror, missile, model, mohawk, mold, mole, money, monk, monkey, monster, moon, moose, mop, morning, mosquito, moss, moth, mothball, mother, motherboard, motorbike, motorcycle, mountain, mouse, mousetrap, mouth, movie, mud, muffin, mug, murderer, muscle, museum, mushroom, musket, mustache, mustard, nachos, nail, nail file, nail polish, napkin, narwhal, nature, navy, neck, needle, neighbor, neighborhood, nerd, nest, network, newspaper, nickel, night, nightclub, nightmare, ninja, noob, noodle, north, nose, nose hair, nose ring, nosebleed, nostrils, notebook, notepad, nothing, notification, novel, nugget, nuke, nun, nurse, nut, nutcracker, nutmeg, nutshell, oar, observatory, ocean, octagon, octopus, office, oil, old, omelet, onion, open, opera, orange, orangutan, orbit, orca, orchestra, orchid, organ, origami, ostrich, otter, outside, oval, overweight, owl, oxygen, oyster, paddle, page, pain, paint, paintball, pajamas, palace, palette, palm, palm tree, pan, pancake, panda, panpipes, panther, pants, papaya, paper, paper bag, parachute, parade, parakeet, parents, park, parking, parrot, party, password, pasta, pastry, path, patient, patio, patriot, pause, pavement, paw, peace, peach, peacock, peanut, pear, peas, peasant, pedal, pelican, pencil, pencil case, pencil sharpener, pendulum, penguin, peninsula, penny, pensioner, pepper, pepperoni, perfume, periscope, person, pet food, pet shop, petal, pharmacist, photo frame, photograph, photographer, piano, pickaxe, pickle, picnic, pie, pig, pigeon, piggy bank, pigsty, pike, pill, pillar, pillow, pillow fight, pilot, pimple, pin, pinball, pine, pine cone, pineapple, pink, pinky, pinwheel, pipe, pirate, pirate ship, pistachio, pistol, pitchfork, pizza, plague, planet, plank, plate, platypus, player, playground, plow, plug, plumber, plunger, pocket, pogo stick, point, poison, poisonous, poke, polar bear, policeman, pollution, polo, pond, pony, ponytail, poodle, poop, poor, popcorn, pope, poppy, popular, porch, porcupine, portal, portrait, positive, postcard, poster, pot, pot of gold, potato, potion, pound, powder, prawn, pray, preach, pregnant, present, president, pretzel, price tag, priest, prince, princess, printer, prism, prison, pro, procrastination, professor, programmer, promotion, protest, provoke, prune, pub, pudding, puddle, puffin, puma, pumpkin, punishment, punk, puppet, purity, purse, puzzle, pyramid, quarter, queen, queue, quicksand, quill, quilt, quokka, raccoon, race, racecar, radar, radiation, radio, radish, raft, rail, rain, rainbow, raincoat, raindrop, rainforest, raisin, rake, ram, ramp, rapper, raspberry, rat, ravioli, razor, razorblade, read, reality, reception, receptionist, record, rectangle, recycling, red, red carpet, reeds, referee, reflection, reindeer, relationship, religion, remote, repeat, reptile, rest, restaurant, retail, revolver, rewind, rhinoceros, rib, ribbon, rice, ring, ringtone, risk, river, roadblock, robber, robin, robot, rock, rocket, rockstar, roll, roof, room, rooster, root, rose, royal, rubber, ruby, rug, ruler, run, rune, sad, saddle, safari, safe, sailboat, salad, sale, saliva, salmon, salt, saltwater, sand, sand castle, sandbox, sandstorm, sandwich, satellite, sauce, sauna, sausage, saxophone, scar, scarecrow, scarf, scary, scent, school, science, scientist, scissors, scoop, score, scream, screen, screw, scribble, scuba, sculpture, scythe, sea, sea lion, seafood, seagull, seahorse, seal, search, seashell, seasick, season, seat belt, seaweed, second, security, seed, seesaw, semicircle, sensei, server, sew, sewing machine, shadow, shake, shallow, shampoo, shape, shark, shaving cream, sheep, shelf, shell, shipwreck, shirt, shock, shoe, shoebox, shoelace, shop, shopping, shopping cart, short, shotgun, shoulder, shout, shovel, shower, shrew, shrub, shy, sick, signature, silence, silo, silver, silverware, sing, sink, sit, six pack, skateboard, skateboarder, skates, skeleton, ski, ski jump, skin, skinny, skribbl.io, skull, skunk, sky, skydiving, skyline, skyscraper, slam, sledge, sledgehammer, sleep, sleeve, slide, slime, slingshot, slippery, slope, sloth, slow, slump, smell, smile, smoke, snail, snake, sneeze, sniper, snow, snowball, snowball fight, snowboard, snowflake, snowman, soap, soccer, social media, socket, socks, soda, soil, soldier, sombrero, son, sound, soup, south, space, space suit, spaceship, spade, spaghetti, spark, sparkles, spatula, speaker, spear, spelunker, sphinx, spider, spin, spinach, spine, spiral, spit, spoiler, sponge, spool, spoon, spore, sports, spray paint, spring, sprinkler, spy, square, squid, squirrel, stab, stadium, stage, stamp, stand, stapler, star, starfish, starfruit, statue, steam, step, stereo, sting, stingray, stomach, stone, stoned, stop sign, stork, storm, stove, straw, strawberry, streamer, street, stress, strong, student, studio, study, stylus, submarine, subway, sugar, suitcase, summer, sun, sunburn, sunflower, sunglasses, sunrise, sunshade, supermarket, superpower, surface, surfboard, surgeon, survivor, sushi, swag, swamp, swan, swarm, sweat, sweater, swimming pool, swimsuit, swing, switch, sword, swordfish, symphony, table, table tennis, tablecloth, tablet, tabletop, taco, tadpole, tail, tailor, take off, talent show, tampon, tangerine, tank, tape, tarantula, target, taser, tattoo, taxi, taxi driver, tea, teacher, teapot, tear, teaspoon, teddy bear, telephone, telescope, television, temperature, tennis, tennis racket, tent, tentacle, text, thermometer, thief, thin, think, thirst, throat, throne, thug, thumb, thunder, thunderstorm, ticket, tickle, tie, tiger, time machine, timpani, tiny, tip, tiramisu, tire, tired, tissue, tissue box, toad, toast, toaster, toe, toenail, toilet, tomato, tomb, tombstone, tongue, toolbox, tooth, toothbrush, toothpaste, toothpick, top hat, torch, tornado, torpedo, tortoise, totem, toucan, touch, tourist, tow truck, towel, tower, toy, tractor, traffic, traffic light, trailer, train, translate, trap, trapdoor, trash can, traveler, treadmill, treasure, tree, treehouse, trend, triangle, trick shot, tricycle, trigger, triplets, tripod, trombone, trophy, tropical, truck, truck driver, trumpet, tuba, tug, tumor, tuna, tunnel, turd, turkey, turnip, turtle, tuxedo, twig, type, udder, ukulele, umbrella, uncle, underground, underweight, undo, unibrow, unicorn, unicycle, uniform, universe, upgrade, vacation, vaccine, vacuum, valley, vampire, vanilla, vanish, vault, vegetable, vegetarian, vein, vent, vertical, veterinarian, victim, victory, video, video game, village, villain, vine, vinegar, viola, violence, violin, virtual reality, virus, vise, vision, vitamin, vlogger, vodka, volcano, volleyball, volume, vomit, voodoo, vortex, vote, vulture, vuvuzela, waffle, waist, waiter, wake up, walk, wall, wallpaper, walnut, walrus, warehouse, warm, wart, wasp, watch, water, water cycle, water gun, waterfall, wave, wax, weak, wealth, weapon, weasel, weather, web, website, wedding, welder, well, werewolf, west, western, whale, wheel, wheelbarrow, whisk, whisper, whistle, white, wife, wig, wiggle, willow, wind, windmill, window, windshield, wine, wine glass, wing, wingnut, winner, winter, wire, wireless, witch, witness, wizard, wolf, wonderland, woodpecker, wool, work, workplace, world, worm, wound, wrapping, wreath, wrench, wrestler, wrestling, wrinkle, wrist, writer, x-ray, xylophone, yacht, yardstick, yawn, yearbook, yellow, yeti, yo-yo, yogurt, yolk, young, youtuber, zebra, zeppelin, zigzag, zipline, zipper, zombie, zoo, zoom,
submitted by StaroSVK to skribbl [link] [comments]

My darkweb experience

As you can expect from the title, this how my first experience on the dark web went. I'm writing this as a warning to all of you who have interest going on there. I know this may just encourage more of you on there, but please just know that what I'm telling you has given me nightmares for days now. Just read this and learn from my wisdom. Thinking you can handle what is out there isn't the same as actually handling it.
I had always been interested in the dark web. However, I never owned a personal computer growing up, and the college I went to had strict internet monitoring/filtering, so I never risked making an incursion. Well I went home due to the coronavirus outbreak, and decided it was time to figure out what all the fuss was about.
So I did some research, and decided to install Tails as a VM and browse from their, hopefully protecting my computer from any malicious attacks. I pull up a tor browser and hop on the hidden-wiki. For the most part, most of the links timed out, most likely they were taken down for one reason or another. Then I found more links to updated "hiden-wikis."
These must've been updated more recently as several more of the links worked. Nothing crazy. Some deepweb porn (honestly the clearnet stuff is better), sites selling drugs, IDs, bitcoin, etc. The occasional conspiracy site. "Red Rooms" that looked like a 10 year old taking an HTML course made, most likely scams.
It was near the bottom of this hidden-wiki page that I found an interesting cite. I forget the name, but the description said "link paste." If you ever find the wiki page, a quick ctrl-f will find it for you. It was a pretty simple website. Basically it was an online forum, actually similar to reddit. However it appeared it was primarily used for posting newfound links and offering various services - hacking, drugs, prostitution. Some darker stuff too, linking/selling child porn and pay to view webcams of blackmailed teens. I stayed away from those.
One of the links caught my eye for some reason. "Get revenge on my girlfriend!" Normally posts like these linked the girlfriends nudes or whatever, but not this one. The OP gave a ton of her info, saying she cheated. Her drivers licence, pictures, email, address. I couldn't read all of it because apparently the girl was chinese.
At first the comments were actually quite wholesome and I laughed, people telling him that she wasn't worth it and he could do way better. "Don't worry about her, king, you can do so much better" and whatnot. Surprisingly wholesome actually. I guess even on the darkweb we're all still bros. But as I scrolled down, one of the comments posted a link, captioned "got revenge."
I, being an idiot, opened it. It redirected me to what looked like a downgraded youtube video. I clicked play. The video started off in what looked like somebody's unfinished basement. The camera panned, around to a hooded woman tied up in a chair, naked. The floor was covered by a tarp. I had a sinking feeling of where this was going. I should've closed the link, deleted the VM, and never looked back. But my curiosity got the better of me. A man walks in from the edge. He's shirtless, revealing a hairy beer gut, but hes wearing what looks like a gimp mask (the footage was kinda grainy so I'm not totally sure). I see he's holding a hacksaw. I should've closed that browser then and their, but I sat, paralyzed by fear of what I knew I was about to see. He took the hood off of the woman, revealing what looked like the woman in the photos above. Her hair was disheveled and her makeup was smeared across her face crying. She looked around frantically, trying to make out her surroundings.
The man started with her arm. Still tied to the chair, he began hacking away at her shoulder as she screamed and squirmed. I could hear the sound of the saw, tearing at her bone. It makes me sick just to think about. The tarp pooled with blood.
I don't really want to describe in any more detail what happened next. Needless to say, the rest of her limbs were removed, and her corpse was strewn across the floor, matted with blood. The camera came in close to her face, as if to verify it was the girl.
No longer paralyzed, I immediately closed the browser, horrified by what I had just seen. However, there was a new window open, like one of those popup boxes. On it was simply a series of numbers. An IP address. And below it, the text, "We know who you are."
I quickly opened a terminal, and typed in 'ipconfig,' displaying my IP address. It was a match.
I stared for a minute in terror. Did they know who I was? Where I am? I sprung into action. I powered off the Virtual Machine, deleted it from VMware. I then immediately deleted the disk image file it came in and emptied the recycle bin. I restarted my computer. There didn't seem to be any sign of any malware, so I shut it down, and went to bed, falling into a restless dream.
I haven't really slept since then. I keep seeing what I saw in my nightmares. I'm still scared that somehow they'll find me. I sleep with a gun now. Every noise at night wakes me up in terror. I'm writing this to all of you would be deep web delvers. This isn't going to stop most of you, but at the least I can warn you. Be careful. Try to stay to the safer sites. Don't just click random links. There's some cool stuff out there. But whatever you see is with you forever. I'm probably not ever going back there. Theres nothing on there worth what I've been through.
submitted by Nordic_Shadow to Scary [link] [comments]

[Discord Conv] Dynamic IOTA


Disclaimer: This is my editing, so there could be some misunderstandings.
For the general view of 'what's going on?' of this dynamic ride...

2/16
dom어제 오전 5:44
Just FYI: the team is now working on a plan on how to recover from this and get the network back into operations while also allowing anyone who might have been affected to safely transition. there are no guarantees just yet, but we will do our best to get this through ASAP. Hopefully we will have a concrete action plan tomorrow and will then communicate it.
On the vulnerability side, all parties are notified and they are working with law enforcement and external auditors to fully understand how this happened. We will keep you guys posted.

dom어제 오전 5:47
needless to say, that the vulnerability itself was rather sophisticated and required access on multiple levels to be able to execute it on this scale. Hopefully we will be able to share more soon.
[Did the vulnerability existed after or before the audit on trinity?]
after the audit

dom어제 오전 5:51
Currently it looks like this will only be for recent Trinity Desktop users

dom어제 오전 5:56
the entire Trinity team did an amazing job and there is not a single person to blame. The attack itself was very sophisticated and targeted at IOTA and Trinity itself. We are already working on v2 where none of this would be possible. We will share our learnings from this publicly and also share what kind of precautionary measures we are taking.

dom어제 오전 5:58
The community also did an amazing job in helping to guide us through and give assistance to other community members.

dom어제 오전 5:58
we actually were having discussions a few weeks ago to rename Trinity (because of the religious connotation)

Jelle Millenaar [IF]어제 오전 6:37
We didn't really have panic and chaos. We actually worked really well together.

Jelle Millenaar [IF]어제 오전 6:38
[IF members, do you get paid Over Time for all the awesome work or PURE DEDICATION?]
nobody considers this overtime or anything. We just contribute because we know it is needed.

dom어제 오전 7:45
[If dependencies carry this risk, maybe they should've done an official CORE wallet and saved all the fluffy stuff for a third party app.]
that's how the new Trinity will work. Sucks that it happened now especially after we wanted to put it into maintenance mode anyways

dom어제 오전 7:49
[How do we know if the hacker has our seeds?]
this is related to a third party, unrelated to IF or IOTA

dom어제 오전 7:50
we know that this could have only been done through intrusion / collusion of an external source.
[Dom are you fully confident to solve all those problems especially regarding the possibility of even more people getting scammed instantly after coo is back again?]
yes, relatively sure. That is why we are taking the necessary time to plan accordingly.

dom어제 오전 7:55
We will provide more information on how this exploit was done soon. All the involved parties are aware of the situation

dom어제 오전 7:58
[Please give us some time before you start the coo information that we can move to new seed instantly]
don't worry, we will get it all sorted out.

dom어제 오전 8:22
once life is a bit less "tumultuos" I still want to work on that Autonomous Bar concept powered by IOTA (access control, id verification, payment and a bunch of robots)

Eric Hop [IF]어제 오후 2:44
Pretty good. I'd be surprised if we find more theft bundles. Only found one more today, while building a timeline of the theft.

Eric Hop [IF]어제 오후 2:50
We have several separate teams. One is looking at how to resume. One is looking at how to be able to rescue the funds. Others are interacting with law enforcement and third parties. I'm part of DAFT. The Data Analysis Forensics Team. Haha

Eric Hop [IF]어제 오후 3:01
Some if the people in Coordicide team like Hans have been helping out. It was an all hands on deck situation. I actually loved it. We haven't had this much of a team spirit in quite a while. Usually everyone plays in their own sand box. But this time we all played together on the beach.
It's such a joy working with so many extremely smart people. With so many eyes on the ball we did not miss much opportunities to figure things out.

Eric Hop [IF]어제 오후 3:07
And for me personally this was a great time. I am all about puzzle solving. And this was the greatest puzzle of all. With a built-in time limit. Haha

Eric Hop [IF]어제 오후 3:12
I'm not doing official statements. But we have a good overview of what happened and the extent of it. Right now we want to hammer down how to resume without risks and how to safeguard the stuck funds if possible. What is especially funny to me is that the coordinator that everyone was bitching about for years did exactly the thing it was meant to do. It allowed us to halt an exploit that otherwise would have cost everyone dearly.

Eric Hop [IF]어제 오후 3:15
It was meant as safeguard, training wheels, while we mature. And while we need to remove it due to it being a single point of failure and a bottle neck to scaling, I will be kind of sad to see it go.
Yes, IF would have done the same to safeguard funds, if a third party wallet would have been the cause. Just because we can.

Eric Hop [IF]어제 오후 3:37
Yes it was a manual attack. The sophistication was in the exploit. But he seemed to be not too sophisticated iota-wise. Everyone has their specialties I guess.

Eric Hop [IF]어제 오후 3:41
And as an aside I wish people would fuck off about the whole iota not being decentralized because of coordinator, when every block chain token is centralized around a few mining pools that seriously disrupt any possibility for positive software development. They fucking hold back everything that influences their bottom line. Which is why Bitcoin and the rest have pretty much been stagnant for years while we move forward constantly.

dom오늘 오전 7:08
We will release a new Trinity version tomorrow with the fixes implemented. It's not yet the full transition tool, but it's the first step towards fully going back to operations.

dom오늘 오전 7:09
Just wait for the rest. It is important that we get this 100% right and we are still further investigating, so there is a lot of behind the scenes work happening right now.

David Sønstebø오늘 오전 8:52
So... Tangle EE
Quite cool eh?
It's so unfortunate that this asshole managed to distract everything away from one of the biggest steps towards global adoption
Let's not give this fuckface further attention. The cause has been identified, law enforcement is involved and mitigation strategy is being worked on. There will be further official updates, but let's not halt the whole IOTA project due to one idiot.

David Sønstebø오늘 오전 8:56
[Is he identified?]
Let's just say that there's a lot of traces. The attacker does not seem to have been too sophisticated. Official update on Monday will provide details.

David Sønstebø오늘 오전 9:03
[How will this situation affect iotas partners?]
My best guess: further increasing our reputation as an organization that solves hard problems efficiently and doesn't shy away from difficulties. Every company in the world has had issues similar to this. Keep in mind that this does not at all affect the protocol/Tangle/IOTA.

David Sønstebø오늘 오전 9:08
We do have a bounty program. This/these individual/s were not interested in the greater good, pure greed and incompetence

David Sønstebø오늘 오전 9:10
[Any examples of use cases for DID on the tangle?]
Virtually all use cases on Tangle requires a secure identifier and verifiable credentials. What I think will happen is that once Tangle EE ships the first version, all other companies using IOTA will start to implement it
[One more question: How transparent will tangle EE be for the community?]
100%. This is why I/we consider Tangle EE to be such a significant milestone, it's not "just" IF, this is a coalition of major companies, start-ups and leading academic institutions building the solutions

David Sønstebø오늘 오전 9:11
[any ETA for the 1st Version?]
That's another good thing, IF won't issue the ETAs, Tangle EE will :

David Sønstebø오늘 오전 9:12
[What does T(angle)EE do exactly?]
It's a partnership and collaboration between several entities to develop and ship code and blueprints that are relevant for product developers and service providers
That blog post is a good read to get better comprehension

David Sønstebø오늘 오전 9:13
It's incredibly important that IF's role slowly but surely decreases in importance. IOTA has to succeed independent of IF post-Coordicide and multiversial-slicing (advanced sharding equivalent)

David Sønstebø오늘 오전 9:14
I would say that it's an incredible important piece of the puzzle. Naturally Object Management Group (OMG) in Tangle EE will be key here as well, but IOTA is not married to "just" Eclipse. We also work closely with Linux Foundation. However, Tangle EE is very focused

David Sønstebø오늘 오전 9:22
I don't think IF will disappear, however, it will hopefully be purely R&D-driven in 10 years, whereas the other efforts are taken over by the ecosystem (companies, academia, start-ups and enthusiasts). Even post-Coordicide, we already now have theories on how to go way beyond even that. If we achieve our goal of IOTA being equivalent to TCP/IP, there will naturally be continuous development and research in the foreseeable future. I doubt we will reach complete satisfaction, especially now that smart contracts and oracles enter the equation: there's certainly more work to be done for IF, but my goal is for IF to "simply" be R&D

David Sønstebø오늘 오전 9:27
Definitely. This is why I coined the requirement for a "grandma on crack"; this is truly how simply using IOTA should be in 2-5 years. Just like very few even know wtf TCP/IP is

David Sønstebø오늘 오전 9:57
I agree 100% with your assessment, though as would Netflix do with Blockbuster's assessment when they declined to acquire Netflix. At the end of the day it's all about basic economic and human behavioural principles.
Human nature does not change, but our environment does. Disruption will continue forever. Darwinian principles will forever remain true.
A better option = adoption. It doesn't matter how hard the incumbents fight against it, they either adapt or go Kodak/Nokia/AOL
submitted by btlkhs to Iota [link] [comments]

An incomplete history of the Bitcoin Cash's origin and the Minimum Viable Fork project

A common meme is that Roger Ver, Jihan Wu, and Craig Wright are the ones responsible for the creation of Bitcoin Cash.
This is untrue. Those are figureheads who played a role in popularizing or (for Bitmain, allegedly) funding later development, but they played almost no part until Bitcoin Cash development was long since underway.
The Bitmain UAHF contingency plan blog post was made on 2017-06-14. This was the first event in Bitcoin Cash's history that reached a wide audience, but it came 15 months after work on what later became Bitcoin Cash began. The public decision to do a minority hard fork happened 2016-07-31, and was spearheaded by singularity87 and ftrader. ftrader did most of the initial development, which he had started back in March 2016. Even back then, the plan to fork before Segwit's activation was clear:
I want to fork before SegWit activates
Bitmain was merely joining their effort in 2017, not starting it.
Bitcoin Cash evolved out of the Minimum Viable Fork project that ftradeFreetrader started in March 2016, and which was discussed in /btcfork and /btc. Freetrader blogged about it quite a bit. If you read through his posts, you can see his initial prototype was built on Bitcoin Classic. In Oct 2016, a MVF version based on Bitcoin Core was made. Development on MVF stalled during the latter half of 2016 when it seemed like Bitcoin Unlimited's emergent consensus proposal was likely to gain adoption, but heated up again in early 2017 when BU lost support after a few remote crash 0-day exploits were found and used against BU on March 15 and again in April. Freetrader restarted his MVF work on Bitcoin Unlimited in April. The first mention of Bitcoin ABC is from May 7, 2017. The ABC project was started by deadalnix, but with mostly the same goal as ftrader's work using Core as the base instead of BU or Classic. At that time, ABC was just Core 0.14 minus RBF and Segwit; it didn't yet have any blocksize changes. Deadalnix reached out to Freetrader and asked him if he wanted to help, which Freetrader did. Freetrader made the first prototype of Bitcoin ABC with a blocksize limit other than 1 MB on or before May 21, 2017, while still working in parallel on the Bitcoin Unlimited version of the MVF. Ftrader and deadalnix continued to work on Bitcoin ABC for a couple months before Bitmain even mentioned their support for the contingency plan, and their contingency plan was basically the same as what ftrader and singularity87 had proposed back in June 2016 (but with more refinements and details worked out) -- perform a minority hard fork from BTC before Segwit activates to increase the blocksize limit, and do so in a way that ensures as clean a split as possible.
Bitcoin ABC was announced to the public on July 1st, 2017, by ftrader and by deadalnix, about 2-3 months after deadalnix and ftrader began working on it, and 2 weeks after Bitmain announced its intent to support the UAHF.
On the date that BCH forked, there were four separate compatible full-node clients:
  1. Bitcoin ABC, developed mostly by Amaury Sechet/deadalnix and freetrader;
  2. Bitcoin Unlimited, developed by the BU team (Andrew Stone/thezerg, Peter Tchipper, Andrea Suisani/sickpig, Peter Rizun, freetrader, and a few others, and funded by anonymous donors in 2016 for their Emergent Consensus proposal);
  3. Bitcoin Classic, originally developed by Gavin Andresen with a little help from me, but extensively reworked by Tom Zander; and
  4. Bitcoin XT, developed initially by Gavin Andresen and Mike Hearn, and later by Tom Harding/dgenr8 and dagurval
Of those developers, the only ones who received money while they were working on these clients were possibly deadalnix (alleged but unconfirmed to be paid by Bitmain), and Gavin (MIT Digital Currency Initiative). Everybody else was a volunteer. At the time, BU's funds only paid for conferences, travel expenses, and a $20,000 bug bounty; BU didn't start paying its developers until after the BCH hard fork.
A lot of Bitcoin Cash's early support came from Haipo Yang of ViaBTC. ViaBTC's exchange was the first to offer BCH trading pairs, and ViaBTC's pool was the first public pool to support BCH. I've also heard that Haipo Yang was the one who coined the name Bitcoin Cash -- can anyone confirm or deny this? ViaBTC played a significant role in BCH's deployment, far more than Roger Ver or Craig Wright, and had a comparable amount of influence to Bitmain. However, this was not obvious on the outside, because Haipo Yang is the kind of person who quietly builds things that work, instead of just being a prominent talking head like Craig Wright and Roger Ver are.
Roger himself actually didn't fully support Bitcoin Cash until after the fork. Initially, he had his hopes up for Segwit2x, as did I. His name was conspicuously missing in an Aug 1, 2017 article about who supports Bitcoin Cash. It was only after Segwit2x failed on Nov 8, 2017 that he started to support BCH.
Craig Wright on the other hand did praise the Bitcoin Cash initiative early on, probably largely because he hated Segwit for some reason. But he didn't do anything to help create BCH; he only spoke in favor of it. (I really wish he hadn't. His involvement in BCH fostered a lot of false beliefs among Bitcoin Cash's userbase, like the belief that selfish mining doesn't exist. We were only able to get rid of his crazed followers when BSV forked off. I'm very grateful that happened. But I digress.) Most people didn't take him seriously, but a modest minority bought his narrative hard. He was a pretty minor player at the time, and remained so until 2018.
These are the people who created Bitcoin Cash. It's easy to place all the credit/blame on the most vocal figureheads, but the marketing department does not create the product; they just sell it. If you weren't around during the product's development, it's hard to know who actually built the thing and who was just a bandwagon joiner. CSW and Roger just hopped on the bandwagon. Jihan Wu/Bitmain and Haipo Yang/ViaBTC joined the crew of the bandwagon and contributed substantially to its development and survival, but by the time they had joined the bandwagon was already in motion. The real instigators were the community members like ftrader, deadalnix, singularity87, the BU crew, the Electron Cash crew (Calin Culianu, kyuupichan, Jonald Fyookball, etc.) and the many others who contributed in various ways that I haven't documented.
For those of you who played a role or know of someone else who did but whom I didn't mention in this post, please make a comment below so we can all hear about it.
submitted by jtoomim to btc [link] [comments]

THE END OF ALL ASIC MINERS? - Monero's New Superweapon: "Time Locked Proof of Non-ASIC work challenge reward" algorithms.

I propose the following algorithm to end this War of attrition with ASIC / FPGA manufacturers , hopefully once and for all and save us Precious PoW Tweaks during the upcoming forks.
"A time-locked, Proof of 'Non-ASIC work' Challenge reward algorithm"
Here's an image to help you visualise how the algorithm works (details below):
https://imgur.com/a/9S8dA
Here's why we need it:
ASIC manufacturers mine in Secret to attack our decentralized network. They'll win the war since they'll 'get their investment back' before we brick their ASICs, allowing them to launch never-ending attacks against our decentralization, for eternity.
Quick Overview
This algorithm uses the concept of "time-locked reward challenges".
The algorithm ‘time-locks’ the reward, then issues a ‘non-ASIC’ work challenge during each regular PoW Fork, which distributes mined rewards only to CPU and GPU miners who can pass the challenge and prove they are not ASICS, by maintaining their hashrate during the ASIC downtime.
These Hash-rate challenges after PoW Forks successfully ‘detect’, and ‘Severely Penalize’ anyone Mining with an ASIC/FPGA, even those in Secret.
Proof of Concept: An Actual Demonstration
I'll demonstrate this algorithm in action:
Please see this image to help you Visualise how the algorithm works:
https://imgur.com/a/9S8dA
There is a critical flaw and uniquely identifying feature that exists in absolutely 'ALL ASIC and FPGA miners', even those mining in Secret.
As most of you may know, with the upcoming V7 PoW hardfork,
Instead of just destroying an ASIC with a fork, we can further exploit this to attack the ASIC Manufacturer or Miner by taking back all their mined rewards and giving them to the community
The Special timeframe is PoW Fork + 'N' Days. ('N' being however many days remaining where it would be "impossible" to build and startup a new ASIC/FPGA after the fork.)
To exploit this, the algorithm introduces a period of time called the "Mining Rewards Collection Timeframe" (MRCT), the time period in between regular PoW Hardforks. the grey shaded area in this image
This "Mining Rewards Collection Timeframe" is a time whereby all mining profit rewards are 'time-locked' or held hostage in escrow, on either the mining pool, or on the Actual Blockchain code itself, or Both, depending on where this algorithm is eventually deployed.
The algorithm stores the wallet address a mining reward belongs to, and the maximum hash rate (or maximum value adjusted share rate per day) observed during the "Mining rewards collection timeframe" for that particular wallet address.
This "Mining Rewards Collection Timeframe" can be of any duration as required by the developers; 1,2,3,4,5,6 Months or longer . The longer This Timeframe, the more dangerous it is to ASIC miners. Meaning we don't have to rush with forks.
Since it's time-locked, mined coins/rewards cannot be cashed out until the coming challenge; However, mining pools can still choose to payout smaller miners before that time if they have a 'good stable Non-Asic Hash challenge passing history', or a deposit on file, or at their own risk, so most good miners don't have to wait to cashout rewards!. Big miners on the other hand, won't care! Why? Because the delay doesn't cost them anything. (it's a TINY TINY inconvenience compared to the damage ASICs would do to GPU mining profits. I hope this makes sense)
Now for the Critical ANTI-ASIC Work Challenge.
Time passes and the mining rewards collection timeframe ends with a Hardfork that changes the PoW algorithm slightly,
All ASICS and FPGAs are INSTANTLY destroyed.
At the same time, the mining rewards from that collection timeframe are now ready to be paid out.
Since only the CPU / GPU miners are able to hash normally,
The Algorithm now issues a Hash Rate challenge to determine how much of the coins mined were actually mined by ASIC or FPGA miners.
The challenge is nothing special. Miners just have to leave their miners running normally at maximum speed for the period of the challenge, same as they do everyday!
During this challenge, their "Average Maximum Hash rate during the challenge" is compared to the "Maximum Hash Rate speed" recorded on the blockchain during the Mining Rewards Collection Timeframe.
See the green dotted line in the image
Thus at this point, since ASICs are DEAD, they cannot Hash at the same rate during this challenge period, so any significant difference in hashrate would thus clearly indicate the use of an ASIC or FPGA miner.
Now, we have all the information we need to STRIP ASIC Miners of ALL their gains, and Reward GPU miners instead.
As shown in the earlier image
What if a 1 GPU breaks in a 12 GPU mining farm during the challenge? (Very rare) or for some reason, you can't mine during that period? then the miner can simply rent the GPUs from nicehash for the Challenge. An ASIC miner however, cannot use this strategy (because ASICS are not GPUs, explained further below). Also we can implement a 2nd chance option; the confiscated reward may be frozen for the next Cycle; and the miner may get a 2nd chance to prove the hashrate again, with a % reward penalty.
The Beautiful thing is that If ASIC miners fail the challenge, Everyone gets a Bonus share of the Reward Forefitted by the ASIC miners, So Everyone wants the ASIC miners to fail so they get Free extra money. and thus have a financial reason to support this algorithm.
*There is no escaping it... or is there?
Is it ASIC PROOF? Can you Cheat this algorithm?
I've also tried to see if you can work around this algorithm:
  • Example 1: What if they switched in GPUS to mine for an ASIC during the challenge? Well, that wouldn't work. When the challenge comes, they can either save the rewards mined by the GPUs, or save the rewards mined by the ASICs, One will always be lost and result is the same anyway because you'd only get paid for the Hash rate of the GPU. The ASIC portion of the hash rate will ALWAYS be lost.
  • Example 2: What if they use the GPUs to mine a different coin and have them only hash for the ASIC during the challenge period?
  • Consider the Antminer X3. at 200KH/s, to support just "ONE ASIC", they would need over 200 RX 580 Cards or 100 VEGA cards to pass the challenge... costing well over $60,000 (SIXTY THOUSAND DOLLARS) and if they depreciate at ~ 10~15% a year, they'd lose $6000~$9000 a year. it's not enough to cover your losses,
  • Also, What other coin could you mine? If ASICS are so powerful, there won't be another coin except those running this algorithm. Then, the dev can choose to issue the challenge at the same point as the other coin using the same algorithm, so they lose all rewards from one coin as 1 rig cannot sustain two challenge algorithms at the same time.
  • Example 3: What if they just leave some GPUS on standby to avoid the power costs? Then ASIC's would still be unable to be mass produced anyway. Because for every ASIC Mass produced, you'd need to Mass Produce 200 times the GPUS to support them in their place, and own of all them. practically impossible.
  • Example 4: What if they rented hashing power from Nicehash to fill in during the Challenge period?
  • Yes, but so can we! The beautiful thing about this algorithm, is if we rent the limited hashing power on Nicehash first before them at break even or loss, it doesn't matter, Because, the ASIC miner cannot rent and hash rate and will fail the challenge, and Forefit the ENORMOUS amount of Rewards to the community. Imagine, Mining at such a high rate for months on end , the rewards confiscated and paid to GPU miners will easily offset any of the tiny losses renting hashrate from Nicehash, so ultimately, The ASIC miners lose Everything, and the community (you and me) gets all their money.
  • Also if ASICs Dominate the crypto market, there won't be any GPU to rent, all remaining coins would be mining this algorithm, meaning they would have to save their own hashrate for themselves, not rent it to ASIC miners. otherwise they lose their reward. Brand new users may rent their GPU's but its no where near enough to cover the ASIC hash shortfall in the challenge.
  • Example 5: What if they waited till we exhausted our supply of PoW fork tweaks? That's the beauty of this algorithm!. We don't actually have to tweak the PoW algorithm on a constant basis! We can intentionally leave it the same. So Everyone passes the Challenge, Then when we do detect an asic "trying to Mine their Money Back in secret (as they do now)", We tweak the PoW at the Next Hardfork. Destroying and bankrupting their very first attempt, and we get all their money and rewards, So there's no need to waste a PoW tweak in a pre-emptive strike, because the rewards are Time-Locked to the future. We can lie in wait with a single PoW like a Trap, and eat them alive (literally we get all their rewards after the challenge!). We can maintain this lethal threat to ASIC manufacturers without having to change the PoW at all!
And remember, all this effort is just for ONLY, ONE ASIC. meaning you Can't mass produce it.
So ultimately it wouldn't even make sense to even develop an ASIC, as you'd be far more profitable just mining only with the 200+ GPU's required to cheat the algorithm.
*So in summary, *
  • No ASIC/FPGA miner can escape the challenge. Not even those running in secret.
  • All ASIC miners are guaranteed to suffer a huge (possibly fatal) financial loss, with no prospect of any return on investment. Time locked rewards ensure No secret pre-mining with ASICs is possible. ASICs are destroyed with each challenge, all R&D and manufacturing costs and the electricity bill used to power them is wasted for basically "ZERO returns",
  • …..and lets not forget that all their rewards gets given away to other honest miners like you and Me!. ( LOL!) or potentially the developers of the fork :)
  • As long as the algorithm is active and used by multiple coins, no ASICs will ever exist to mine in secret,
  • We save precious PoW tweak changes, since there's no need for a pre-emptive PoW strike to prevent 'ASIC hit and run' pre-mine scenarios.
  • ASIC manufacturers see that the war is un-winnable and go invest in other things,
So, in theory, The War Ends. (at least for a very good part of the future)
As they say: " Don't build a wall and hide in fear.... Build a wall and launch missiles from behind it against the enemy so they will never dare attack us again."
I would like to point out that time locked reward challenges are already in use by the Olympic games to Strip drug cheats in the past by storing samples and testing them in the future, and it's also in the PPLNS minig pool algorithms to deter pool hopping cheats, and also in the Bitcoin's Lightning network in the form of decrementing time-locks" that 'enforce the transfer of funds' under certain conditions.
Is it beautiful? Will it work? Can it be done? Let's discuss this
submitted by MoneroChan to Monero [link] [comments]

Bitcoin Mining Profitability: How Long Does it Take to Mine One Bitcoin in 2019?

When it comes to Bitcoin (BTC) mining, the major questions on people’s minds are “how profitable is Bitcoin mining” and “how long would it take to mine one Bitcoin?” To answer these questions, we need to take an in-depth look at the current state of the Bitcoin mining industry — and how it has changed — over the last several years.
Bitcoin mining is, essentially, the process of participating in Bitcoin’s underlying security mechanism — known as proof-of-work — to help secure the Bitcoin blockchain. In return, participants receive compensation in bitcoins (BTC).
When you participate in Bitcoin mining, you are essentially searching for blocks by crunching complex cryptographic challenges using your mining hardware. Once a block is discovered, new transactions are recorded and verified within the block and the block discoverer receives the block rewards — currently set at 12.5 BTC — as well as the transactions fees for the transactions included within the block.
Once the maximum supply of 21 million Bitcoins has been mined, no further Bitcoins will ever come into existence. This property makes Bitcoin deflationary, something which many argue will inevitably increase the value of each Bitcoin unit as it becomes more scarce due to increased global adoption.
The limited supply of Bitcoin is also one of the reasons why Bitcoin mining has become so popular. In previous years, Bitcoin mining proved to be a lucrative investment option — netting miners with several fold returns on their investment with relatively little effort.
bitcoin mining hardware
Mining Hardware
The mining hardware you choose will mostly depend on your circumstances — in terms of budget, location and electricity costs. Since the amount of hashing power you can dedicate to the mining process is directly correlated with how much Bitcoin you will mine per day, it is wise to ensure your hardware is still competitive in 2019.
Bitcoin uses SHA256 as its mining algorithm. Because of this, only hardware compatible with this algorithm can be used to mine Bitcoin. Although it is technically possible to mine Bitcoin on your current computer hardware — using your CPU or GPU — this will almost certainly not generate a positive return on your investment and you may end up damaging your device.
The most cost-effective way to mine Bitcoin in 2019 is using application-specific integrated circuit (ASIC) mining hardware. These are specially-designed machines that offer much higher performance per watt than typical computers and have been an absolutely essential purchase for anybody looking to get into Bitcoin mining since the first Avalon ASICs were shipped in 2013.
When it comes to selecting Bitcoin mining hardware, there are several main parameters to consider — though the importance of each of these may vary based on personal circumstances and budget.
Performance per Watt
When it comes to Bitcoin mining, performance per watt is a measure of how many gigahashes per watt a machine is capable of and is, hence, a simple measure of its efficiency. Since electricity costs are likely to be one of the largest expenses when mining Bitcoin, it is usually a good idea to ensure that you are getting good performance per watt out of your hardware.
Ideally, your mining hardware would be highly efficient, allowing it to mine Bitcoin with lower energy requirements — though this will need to be balanced with acquisition costs, as often the most efficient hardware is also the most expensive. This means it may take longer to see a return on investment.
In countries with cheap electricity, performance per watt is often less of a concern than acquisition costs and price-performance ratio. In most countries, operating outdated mining hardware is typically cost prohibitive, as energy costs outweigh the income generated by the mining equipment.
However, this may not be the case for those operating in countries with extremely cheap electricity — such as Kuwait and Venezuela — as even older equipment can still be profitable. Similarly, miners with a free energy surplus, such as from wind or solar electric generators, can benefit from the minimal gains offered by still running outdated hardware.
Longevity
The lifetime of mining hardware also plays a critical role in determining how profitable your mining venture will be. It’s always a good idea to do whatever possible to ensure it runs as smoothly as possible.
Since mining equipment tends to run at a full (or almost full) load for extended periods, they also tend to break down and fail more frequently than most electronics — which can seriously damage your profitability. Equipment failure is even more common when purchasing second-hand equipment. Since warranty claims are often challenging, it can often take a long time to receive a warranty replacement.
Price-Performance Ratio
In many cases, one of the major criteria used to select mining hardware is the price-performance ratio — a measure of how much performance a machine outputs per unit price. In the case of cryptocurrency mining hardware, this is commonly expressed as gigahashes per dollar or GH/$.
Under ideal circumstances, the mining hardware would have a high price-performance ratio, ensuring you get a lot of bang for your buck. However, this must also be considered in combination with the acquisition costs and the expected lifetime of the machine — since the absolute most powerful machines are not always the cheapest or the most energy efficient.
Acquisition Costs
Acquisition costs are almost always the biggest barrier to entry for most Bitcoin miners since most top-end mining hardware costs several thousand dollars. This problem is further compounded by the fact that many hardware manufacturers offer discounts for bulk purchases, allowing those with deeper pockets to achieve a better price-performance ratio.
Acquisition costs include all the costs involved in purchasing any mining equipment, including hardware costs, shipping costs, import duties, and any further costs. For example, many ASIC miners do not include a power supply — which can be another considerable expense, since the 1,000W+ power supplies usually required tend to cost several hundred dollars alone.
Ensuring your equipment runs smoothly can also add in additional costs, such as cooling and maintenance expenses. In addition, some miners may want to invest in uninterruptible power supplies to ensure their hardware keeps running — even if the power fails temporarily.
asic mining
Current Generation Hardware
One of the most recent additions to the Bitcoin mining hardware market is the Ebang Ebit E11++, which was released in October 2018. Using a 10nm fabrication process for its processors, the Ebit E11++ is able to achieve one of the highest hash rates on the market at 44TH/s.
In terms of efficiency, the Ebang Ebit E11++ is arguably the best on the market, offering 44TH/s of hash rate while drawing just 1,980W of power, offering 22.2GH/W performance. However, as of writing, the Ebang Ebit E11++ is out of stock until March 31, 2019 — while its price of $2,024 (excluding shipping) may make it prohibitively expensive for those first getting involved with Bitcoin mining.
Another popular choice is the ASICminer 8 Nano, a machine released in October 2018 that offers 44TH/s for $3,900 excluding shipping. The ASICminer 8 Nano draws 2,100W of power, giving it an efficiency of almost 21GH/W — slightly lower than the Ebit E11++ while costing almost double the price. However, unlike the E11++, the 8 Nano is actually in stock and available to purchase.
ASICminer also offers the 8 Nano Pro, a machine launched in mid-2018 that offers 80 TH/s of hash rate for $9,500 (excluding shipping). However, unlike the Ebit E11++ and 8 Nano, the minimum order quantity for the 8 Nano Pro is curiously set at five, meaning you will need to lay out a minimum of $47,500 in order to actually get your hands on one (or five).
While the 8 Nano Pro doesn’t offer the same performance per watt as the Ebit E11+ or AICMiner 8 Nano, it is one of the quieter miners on this list, making it more suitable for a home or office environment. That being said, the ASICminer 8 Nano Pro is easily the most expensive miner per TH on this list — costing a whopping $118.75/TH, compared to the $46/TH offered by the E11++ and $88.64 offered by the 8 Nano.
The latest hardware on this list is the Innosilicon T3 43T, which is currently available for pre-order at $2,279, and estimated to ship in March 2019. Offering 43TH/s of performance at 2,100W, the T3 43T comes in at an efficiency of 20.4GH/W, which is around 10 percent less energy efficient than the Ebit E11++.
The T3 43T also has a minimum order quantity of three units, making the minimum acquisition cost $6837 + shipping for preorders. All in all, the T3 43T is more costly and less efficient than the E11++ but may arrive slightly earlier since Ebang will not ship the E11++ units until at least end March 29, 2019.
Finally, this list would not be complete without including Bitmain’s latest offering, the Antminer S15-28TH/s, which — as its name suggests — offers 28TH/s of hash power while drawing just under 1600W at the wall. The Antminer S15 is one of the only SHA256 miners to use 7nm processors, making it somewhat smaller than some of the other devices on this list.
Like most pieces of top-end Bitcoin mining hardware, the Antminer S15 27TH/s model is currently sold out, with current orders not shipping until mid-February 2019. However, the S15 is offered at a significantly lower price than many of its competitors at just $1020 (excluding shipping), with no minimum quantity restriction. At these rates, the Antminer comes in at just $37.78/TH — though its energy efficiency is a much less impressive 17.5GH/W.
Mining Hardware Mining Hardware Comparison
Performance (GH/W) Price Performance Ratio ($/TH)
Ebang Ebit E11++ 22.2GH/W $46/TH
ASICminer 8 Nano 21GH/W $88.64/TH
ASICminer 8 Nano Pro 19GH/W $118.75/TH
Innosilicon T3 43T 20.4GH/W $53/TH
Antminer S15-28TH/s 17.5GH/W $37.78/TH
How To Select a Good Mining Pool
Mining pools are platforms that allow miners to pool their resources together to achieve a higher collective hash rate — which, in turn, allows the collective to mine more blocks than they would be able to achieve alone.
Typically, these mining pools will distribute block rewards to contributing miners based on the proportion of the hash rate they supply. If a pool contributing a total of 20 TH/s of hash rate successfully mines the next block, a user responsible for 10 percent of this hash rate will receive 10 percent of the 12.5 BTC reward.
Pools essentially allow smaller miners to compete with large private mining organizations by ensuring that the collective hash rate is high enough to successfully mine blocks on regular basis. Without operating through a mining pool, many miners would be unlikely to discover any blocks at all — due to only contributing a tiny fraction of the overall Bitcoin hash rate.
While it is quite possible to be successful mining without a pool, this typically requires an extremely large mining operation and is usually not recommended — unless you have enough hash rate to mine blocks on a regular basis.
Although it is technically possible to discover blocks mining solo and keep the entire 12.5 BTC reward for yourself, the odds of this actually occurring are practically zero — making pool collaboration practically the only way to compete in 2019 and beyond.
Selecting the best pool for you can be a challenging job since the vast majority of pools are quite similar and offer similar features and comparable fees. Because of this, we have broken down the qualities you should be looking for in a new pool into four categories; reputation, hash rate, pool fees, and usability/features:
Reputation
The reputation of a pool is one of the most important factors in selecting the pool that is best for you. Well-reputed pools will tend to be much larger than newer or less well-established pools since few pools with a poor reputation can stand the test of time.
Well-reputed pools also tend to be more transparent about their operation, many of which provide tools to ensure that each user is getting the correct reward based on the hash rate contributed. By using only pools with a great reputation, you also ensure your hash rate is not being used for nefarious purposes — such as powering a 51 percent attack.
When comparing a list of pools that appear suitable for you, it is a wise move to read their user reviews before making your choice — ensuring you don’t end up mining at a pool that steals your hard-fought earnings.
Hash Rate
When it comes to mining Bitcoin, the probability of discovering the next block is directly related to the amount of hashing power you contribute to the network. Because of this, one of the major features you should be considering when selecting your pool is its total hash rate — which is often closely related to the proportion of new blocks mined by the pool
Since the total hash rate of a pool is directly related to how quickly it discovers new blocks, this means the largest pools tend to discover a relative majority of blocks — leading to more regular rewards. However, the very largest pools also tend the have higher fees but often make up for this with sheer success and additional features.
Sometimes, some of the largest pools have a minimum hash rate requirement ù leaving some of the smaller miners left out of the loop. Although smaller pools typically have more relaxed requirements with reduced performance thresholds, these pools may be only slightly more profitable than mining solo.
Pool Fees
When choosing a suitable pool, typically one of the major considerations is its fees. Typically, most pools will charge a small fee that is deducted from your earnings and is usually around 1-2 percent — but sometimes slightly lower or higher.
There are also pools that offer 0 percent fees. However, these are often much smaller than the major pools and tend to make their money in a different way — such as through monthly subscriptions or donations.
Ideally, you will choose the pool that offers the best balance of fees to other features. Usually, the pool with the absolute lowest fees is not the best choice. Additionally, pools with the lowest fees often have the highest withdrawal minimums — making pool hopping uneconomical for most.
Usability and Features
When first starting out with Bitcoin mining, learning how to set up a pool and navigating through the settings can be a challenge. Because of this, several pools target their services to newer users by offering a simple to navigate user interface and providing detailed learning resources and prompt customer support.
However, for more experienced miners, simple pools don’t tend to offer a variety of features needed to maximize profitability. For example, although many mining pools focus their entire hash rate towards mining a single cryptocurrency, some are large enough to offer additional options — allowing users to mine other SHA256 coins such as Bitcoin Cash (BCH) or Fantom if they choose.
These pools are technically more challenging to use and mostly designed for those familiar with mining, happy to hop from coin to coin mining whichever is most profitable at the time. There are even some exchanges that automatically direct their combined hash rate at the most profitable cryptocurrency — taking the guesswork out of the equation.
bitcoin mining pool
Best Mining Pools for 2019
The Bitcoin mining pool industry has a large number of players, but the vast majority of the Bitcoin hash rate is concentrated within just a few pools. Currently, there are dozens of suitable pools to choose from — but we have selected just a few of the best to help get you started on your journey.
Slushpool was the first Bitcoin mining pool released, being launched way back in 2010 under the name “Bitcoin Pooled Mining Server.” Since then, Slushpool has grown into one of the most popular pools around — currently accounting for just under 10 percent of the total Bitcoin hash rate.
Although Slushpool isn’t one of the very largest pools, it does offer a newbie-friendly interface alongside more advanced features for those that need them. The pool has moderately high fees of 2 percent but offers servers in several countries — including the U.S., Europe, China, and Japan — giving it a good balance of fees to features.
BTC.com is another potential candidate for your pool and currently stands as the largest public Bitcoin mining pool. It is responsible for mining around 17 percent of new blocks. Being the largest public mining pool provides users with a sense of security, ensuring blocks are mined regularly and a stable income is made.
Image courtesy of Blockchain.info.
BTC.com is owned by Bitmain, a company that manufacturers mining hardware, and charges a 1.5 percent fees — placing it squarely in the middle-tier in terms of fees. Unlike other platforms, BTC.com uses its own payment structure known as FPPS (Full Pay Per Share), which means miners also receive a share of the transaction fees included within mined blocks — making it slightly more profitable than standard payment per share (PPS) pools.
Another great option is Antpool, a mining pool that supports mining services for 10 different cryptocurrencies, including Bitcoin, Litecoin (LTC) and Ethereum (ETH). AntPool frequently trades places with BTC.com as the largest Bitcoin mining pool. However, as of this writing, it occupies the title of the third-largest public mining pool.
What sets Antpool apart from other pools is the ability to choose your own fee system — including PPS, PPS+, and PPLNS. If you choose PPLNS, using Antpool is free but you will not receive any transaction fees from any blocks mined. Antpool also offers regular payouts and has a low minimum payout of just 0.001 BTC, making it suitable for smaller miners.
Last on the list of the best Bitcoin mining pools in 2019 is the Bitcoin.com mining pool. Although this is one of the smaller pools available, the Bitcoin.com pool has some redeeming features that make it worth a look. It offers mining contracts, allowing you to test out Bitcoin mining before investing in mining equipment of your own. According to Bitcoin.com, they are the highest paying Pay Per Share (PPS) pool in the world, offering up to 98 percent block rewards as well as automatic switching between BTC and BCH mining to optimize profitability.

Electricity Costs
While your mining hardware is most important when it comes to how much BTC you can earn when mining, your electricity costs are usually the largest additional expense. With electricity costs often varying dramatically between countries, ensuring you are on the best cost-per-KWh plan available will help to keep costs down when mining.
Most commonly, large mining operations will be set up in countries where electricity costs are the lowest — such as Iceland, India, and Ukraine. Since China has one of the lowest energy costs in the world, it was previously the epicenter of Bitcoin mining. However, since the government began cracking down on cryptocurrencies, it has largely fallen out of favor with miners.
Technically, Venezuela is one of the cheapest countries in the world in terms of electricity, with the government heavily subsidizing these energy costs — while Bitcoin offers an escape from the hyperinflation suffered by the Venezuelan bolivar. Despite this, importing mining hardware into the country is a costly endeavor, making it impractical for many people.
Finding ways to lower your electricity costs is one of the best ways to improve your mining profitability. This can include investing in renewable energy sources such as solar, geothermal, or wind — which can yield increased profitability over the long term.
if you are looking to buy bitcoin mining equipment here is some links:

Model Antminer S17 Pro (56Th) from Bitmain mining SHA-256 algorithm with a maximum hashrate of 56Th/s for a power consumption of 2385W.
https://miningwholesale.eu/product/bitmain-antminer-s17-pro-56th-copy/?wpam_id=17
Model Antminer S9K from Bitmain mining SHA-256 algorithm with a maximum hashrate of 14Th/s for a power consumption of 1323W.
https://miningwholesale.eu/product/bitmain-antminer-s9k-14-th-s/?wpam_id=17
Model T2T 30Tfrom Innosilicon mining SHA-256 algorithm with a maximum hashrate of 30Th/s for a power consumption of 2200W.
https://miningwholesale.eu/product/innosilicon-t2t-30t/?wpam_id=17
mining wholesale website:
https://miningwholesale.eu/?wpam_id=17
submitted by mohamadk to Bitcoin [link] [comments]

Weekly Update: ParGas is live, 2gether at South Summit, $ETHOS rebrand, updated $1UP tokenomics... – 27 Sep - 3 Oct'19

Weekly Update: ParGas is live, 2gether at South Summit, $ETHOS rebrand, updated $1UP tokenomics... – 27 Sep - 3 Oct'19
Hi everyone! Here’s your week at Parachute + partners (27 Sep - 3 Oct'19):

ParGas went live this week. From now on, you will get an additional option to pay for gas in $PAR when making ERC20 withdrawals from ParJar. Epic! Read all about it here. In this week’s Parena, Samuel defeated Martha in a quick finale to take home the lion’s share of the 100k $PAR pot. The #PAR4PAR contest entered stage 4. 200k $PAR in prizes. Insane! In this week’s Tiproom trivias, Ridwan hosted a 10 question quiz for 25k $PAR in total. There was another Math trivia for 25k $PAR more. Sweet! Doc Victor hosted a Champions League wager for 50 participants with a 10k $PAR pool.
This PAR logo is entirely made using ASCII code. Courtesy: Jose

Tiproom #mememania winners. Alimam and Rogel were tied in 1st place
The winner of the USD 500 BTC aXpire contest was announced this week. Congratulations to yo*******[email protected]! Rohit and my article on how Big Co and Big Guv is using blockchain was published in Altcoin Magazine. Week 39 update from the aXpireverse can be seen here. The weekly 20k $AXPR burn went ahead like clockwork. The latest 2gether app update now allows you to send $BTC and $ETH from your account to any wallet. Noice! The team, in the midst of shifting offices, set up camp at South Summit where 2gether is one of the finalist startups. Click here, here and here for pictures. As a finalist at the Summit, CEO Ramon got the opportunity to deliver a pitch to attendees. Plus interviews by Emprendiendo.TV and Funontheride. Great! The WednesdayClub dApp continues to airdrop $WED tokens every Wednesday. Make sure to get in on the action.
Parachute HQ recently shifted to the WeWork Navy Yards in NYC. Beautiful
XIO’s Binance Dex listing proposal* was submitted this week. For listing on the Dex, all projects submit detailed proposals and answer questions from the Binance Node operator community who then evaluate and decide on the listing. Read more about it here. Plus, there’s a hint of an $XIO doubling opportunity in there. The full roadmap (XIO Atlas) was also released with the proposal. An updated promo video came out as well. $XIO distribution to the giveaway winners was completed this week. In this week's discussion threads, Zachary talks about leverage, ERC20-BEP2 bridge, XIO capital and how many native tokens will incubated startups share with XIO citizens. The $BOMB Instagram is now handled by the community. So the BOMB Board opened up a proposal form for opinions from the community on how best to manage it.
\[As shared in last update, the switch to Binance Chain has been shelved. $XIO will stay on Ethereum. But there will still be a token swap. Details will be shared in a later update]*
Two updates back we saw the WIP version. Here’s the full version of XIO Atlas
The $ETHOS token will be rebranding to Voyager ($VGX). The new token will be unveiled in November. Please note that there is no contract swap. This will simply be a rename. You can read more about it here. The bitcointalk Ann goes into even more details on the rebranded token’s use-cases. Understandably, there were lots of questions that came up. So the team arranged an AMA. If you missed it, check out the FAQ. Voyager also received investment from Thrust Capital through a private placement this week. Nice! Congratulations to Bounty0x for getting accepted to the Berkeley Blockchain Xcelerator program. This is huge! The latest update is a great summary the past quarter @Bounty0x – reaching minimum fund raise goal on Republic, new features like Admin Notes, $BNTY staking, integration with Bloom and KABN etc. Fantom hosted an AMA with G.Crypto this week. CMO Michael shared a formalised roadmap article as well to answer all “when” questions. Plus, click here for some cool pics from CryptoBazar Serial Hacking meetup which the $FTM team attended. Uptrenndians, don’t forget to read the $1UP tokenomics update. It explains how the token velocity will work in a way such that everyone gets an equal opportunity at stacking $1UPs no matter when they join. BTW, if you didn’t notice yet, Uptrenndian made it to the Urban Dictionary. You can vote to keep it there forever. Let’s go! One way to beat Monday morning blues is a healthy dose of Meme Mondays while watching the site climb up the Alexa rankings. Haha. And finally, the team announced a partnership with Xord who will work on the blockchain solutions on the platform.
Parachute investor deck sneak peek
Mycro conducted KYC for bounty hunters and started a campaign to stop fake entries. OST-backed Pepo app moved to the first live beta stage this week as a precursor to a formal beta launch and presentation at Ethereum DevCon5 in Osaka next week. The team also shared details of how to hop in for a free Shabu Shabu dinner and pub crawl for Pepo beta users at DevCon5. And on top of that, a massive bounty for sharing IRL experiences on Pepo. Dang! Another bounty for usability testing of Pepo with the UX Team was also launched. 3k $OST for each selected participant. Say what! The OST-backed LGBT token now has 4k+ users thanks to the Hornet app. Well done! SelfKey announced a partnership with social watching platform Livetree for providing them KYC compliance solutions during onboarding process. Make sure to read the post to find out how to get a 90-day free subscription on the platform. If you haven't yet watched Constellation advisor and former Sanrio CEO Ray Rehito Hatoyama's interview with Co-Founder Benjamin Jorgensen, you can read about it in The Daily Chain's detailed coverage. If you're a $DAG node operator, this tweet will be of interest to you. Hint: onboarding has started. Folks who missed Constellation's AMA with tehMoonwalkeR can catch up from the transcript. And finally, Arena Match hosted a flash giveaway. Eagle eyed fans got their hands on some sweet $AMGO!
Pepo ready to make waves at DevCon5
The month gone by at Opacity saw a 20% increase in new accounts and a ~20% return rate on the site. Read more performance metrics from CEO Jason’s round up article. This month will see a slew of new features like integrated gift card payments, plan upgrades, folder upload etc. A productive community doesn’t stop BUIDLing. Check out ImgOpq which is a community run imageboard that works with public Opacity handles. Fun! Catch up on the latest at District0x from the weekly and dev update. Plus, a shoutout to Ethlance from Jaide of Cryptalk was pretty cool. More partners joined the Hydro dApp store this week including Temporal, MESG and Colony. Hydrogen won the USA Nationals of the BBVA Open Talent Award which is one of the world’s largest fintech startup competitions. As a result, the team won the opportunity to present at the BBVA Open Summit in Madrid. Co-Founder Mike travelled to the World Blockchain Forum Conference in NYC to speak on Libra vs Hydro and data privacy. The South African Reserve Bank shortlisted Hydro for an accelerator programme in South Africa which will culminate in a Demo Day at the end of the month. Two winners from the Demo Day will be chosen who will get to pitch at the Singapore Fintech Festival and receive funding. Good Luck! To read a quick dev update, click here. The Sentivate community voted on whether to burn $SNTVT tokens or host a raffle. One way to participate in the vote was by signing a message through one’s wallet. How? Read this to find out. Chico Crypto’s deep dive interview with Founder Thomas Marchi was released this week. Continuing with last week’s discussion on universal domain system, this week we learned about how Domain Information Service works in the Universal Web.

And with that, it’s a close for this week at Parachute. Cheerio!
submitted by abhijoysarkar to ParachuteToken [link] [comments]

A summary of QASH and why I believe it will serve a pivotal role in the growth of the cryptocurrency market worldwide.

SIDE NOTE: DO NEVER EVER LEAVE YOUR CRYPTOCURRENCIES ON QRYPTOS & QUOINE. WITHDRAWAL TAKES SEVERAL DAYS AND IN SOME CASES LONGER THAN A WEEK LATELY. MANY PEOPLE HAVE BEEN HAVING HUGE TROUBLES
 
DISCLAIMER: I'm not affiliated with this project in any way. Don't take this as actual investment advice at face-value, but rather a comprehensive summary I put together based upon my own findings, research, and personal insight about the project. As always, if you do wish to invest, please DYOR beforehand and make your investments based upon your own assessment of the project.
 
 
The token is called QASH (by QUOINE) and it essentially serves as the financial utility and payment token for QUOINE's upcoming Liquid+ platform and all services which it provides. I haven't actually seen much talk going on about this anywhere, and to me, it's sort of baffling how seemingly under-the-radar this has been flying, given the problem that it's going to be solving in the cryptocurrency space.
 

The Problem

The platform that they've built is super intriguing to me as a cryptocurrency trader due to the fact that it's aiming to fundamentally solve a huge, yet often overlooked problem in this space: illiquidity. This really excites me because in my personal experience (and I'm sure for many others on this sub who are stuck trading with minor currencies), attempting to purchase BTC, ETH, or other tokens with a fiat currency like say, GBP, is just downright painful and usually ends up in an immediate loss since there are significantly fewer buyers and sellers in the relevant GBP markets than say, USD markets - and thus the market price can tend to slip easily in either direction even with relatively small trade amounts (as a result of high spreads).
 

The Solution: Liquid+

Now imagine the case whereupon this problem doesn't exist — where anyone around the world, whether it be individuals, institutional investment, businesses, etc., would always be able to have immediate access to highly liquid cryptocurrency markets, and not be subject to an inherent disadvantage simply by virtue of the specific fiat currency they're using to trade with or one particular exchange that they're trading on.
 
This is a landscape which the Liquid+ platform will be able to render to the cryptocurrency economy, and what I think solving this problem will ultimately mean is that we'll start to see a much more global influx of individuals and institutions coming into the cryptocurrency space because a massive, worldwide liquidity pool will have been created through the Liquid+ platform. Essentially, the platform will enable minor currencies such as the Rupee, Peso, Pound Sterling, Thai Baht, whatever it is you name it — to be traded with on the same level of liquidity that a major currency (e.g. USD) does. This is the function of what they're calling the "World Book".
 

World Book

The World Book essentially is a global aggregation of orders sourced from many different cryptocurrency exchanges (i.e. "liquidity silos"). Orders which are placed from within any of the connected exchanges can be simultaneously published into the Liquid+ platform and be matched with orders from a completely separate exchange. What's even more fascinating about this is that these matched orders aren't even necessarily required to be of the same trading pair.
 
So for instance, a trader who intends to make a btc-yen trade can be automatically matched up with another trader making a totally separate trade say, eth-euro, just by virtue of the world book internally executing a two-step transaction in order to "hop" from the euro trade to the yen trade. It's important to note that this entire process all happens seamlessly and is transparent to the end-user. Each trader would see every other traders' orders denominated in their preferred quote currency (even though the orders may actually be based on a different quote currency on the other side), meaning that the world book is "currency-agnostic" amongst all orders.
 
Performance-wise, the platform is deemed to be capable of handling over a million of these orders / FX-conversions per second, and is built upon a set of already established and tested technologies developed by QUOINE. As a result, much of the platform is actually already in place, and the integration work with many of the world's largest cryptocurrency exchanges are already underway or have been completed.
 
Additionally, here's a great explanation of what the World Book can do as described by Andre Pemmelaar, who is one of the architects of the platform. Further high level explanation by QUOINE CEO Mike Kayamori.
 
Another important point to note on this is that there's generally a big incentive for exchanges to participate in this World Book, as it will be able to funnel in substantially more trading volume from the markets of other exchanges.
 
In my mind, the World Book will no doubt be an absolute game changer to this space when it hits. However, there's another equally, if not more substantial component to the platform:
 

Prime Brokerage

Liquid+ will act as a Prime Brokerage service, and it will be the first of its kind in the cryptocurrency space (by which QUOINE is officially licensed by the JFSA, one of the strictest regulators in the world). One way you can think of it, is that this could effectively make Liquid+ into the Goldman Sachs or Morgan Stanley equivalent of the cryptocurrency space, and it's in fact aiming to become the platform upon which major hedge funds and institutional investors around the world will prefer to leverage in order to mitigate counter-party risk (such as a particular exchange getting hacked and losing funds), manage and move large amounts of fiat capital, as well as take advantage of the globally sourced liquidity pool provided by the world book.
 
To me, it makes perfect sense to have integrated, seeing as many of the major reputable exchanges around the world will have already been interconnected through the Liquid+ platform. Ultimately, it means individuals as well as major institutions coming into this space will no longer be required to deal with the pain of managing numerous individual accounts across multiple exchanges and transferring funds between each. Instead, Liquid+ allows its users to be provided with direct market access to the liquidity and trading pairs yielded by all associated exchanges in a single platform, and on a single account. By now, you can probably start to imagine just how attractive this is going to be for the major institutional players coming into this space, and on an international scale.
 

User-Generated Trading Strategies

Another intriguing feature is that once the QASH blockchain is implemented, the platform will be able to facilitate the authoring of custom-written automated trading strategies and algorithms by any of its users (including individuals as well as institutions), utilizing a variety of mainstream programming languages. These strategies can then be published to the platform and shared amongst other users. The profits yielded by these trading strategies are subject to fees which are then paid back in QASH to the authors of those strategies.
 

QASH Token Value Proposition

The value of the QASH token is proportional to the scale of its utility and velocity of usage. For starters, QASH can be used for payment on the Liquid+ platform for everything including trading fees, fees on profit from automated trading strategies (as described above), fiat / crypto credit lending, and for all other services that it renders. QASH can also be used as payment on QUOINE's other products: Quoinex and Qryptos. Additionally, users who elect to pay using QASH on these platforms do so at a discounted rate on fees.
 
Another important point to note here is that QASH will be used to fuel payment for all services rendered by the Prime Brokerage. So for instance when institutions start to utilize the platform, it means that this money will start to flow through the QASH token as well.
 
But I think perhaps the bigger and longer-term value proposition for QASH is the fact that it's striving to become the "Bitcoin or Ethereum of the financial services industry", meaning widespread adoption of QASH as the preferred cryptocurrency for use in financial institutions. As more and more of these institutions seek to gain a foothold in the blockchain space, they're going to be looking for cryptocurrencies that maintain trustworthy backing and have the appropriate governmental regulation / security frameworks set in place. QASH aims to fulfill this role and is in fact officially approved as a cryptocurrency by the Japanese government. Moreover, QUOINE is the only cryptocurrency exchange company which is audited by a "Big Four" accounting firm.
 
QASH is initially built upon the ERC-20 token standard, but will eventually migrate to its own blockchain by Q2 2019. As opposed to Ethereum, the blockchain will incorporate sophisticated tools and services which are geared specifically toward usage in the financial services industry (read more about these here). Having this inherent support for many financially related functions will be paramount for wider adoption as a token of preference, as QASH seeks to bridge the gap between traditional finance and the cryptocurrency economy.
 
With adoption by the financial services industry, the value of the QASH token can then be expected to continue increasing as a result of its ever expanding utility and usage.
 
Additionally, here's an explanation of the QASH blockchain as described by Andre.
 

Brief Company Background (QUOINE)

QUOINE is a profitable and established FinTech company (over 250 years of combined FinTech experience) who have built Quoinex, one of the top ranking exchanges in the world by volume, as well as Qryptos, a token-to-token asset exchange and ICO platform. Quoinex is one of the largest fiat-to-crypto exchanges in the world with $12 Billion in annual transactions. They are the first global cryptocurrency firm in the world to be officially licensed by the Japan Financial Services Agency (License 0002) and has as a "Big Four" external auditor.
 

Leadership

What gives me confidence that QASH may succeed in becoming widely adopted by financial institutions is that the company is lead by those with strong financial leadership. QUOINE's executives hail from the financial services industry, many of whom have served executive positions at some of the biggest financial institutions in the world.
 
Detailed information about the executives and board directors can be found on the Liquid+ website (or in the whitepaper) so I won't list them all out here for the sake of conciseness, but many of them come from executive positions at major institutions including:
 
 

QASH / Platform Investors

Again, a full detailed list can be found on the Liquid+ website. Investors in the platform and QASH ICO include those who have executive leadership roles at companies such as:
 
 
Additionally, Mike had announced in his video AMA a few other notable investors in the ICO who aren't listed on the website:
 
 

Liquidity Partners

The platform of course needs a lot of liquidity partners from around the world participating in order for the system to function worthwhile. Andre discusses their numerous liquidity partnerships in this video, so I'll simply summarize:
 
 

Other Tidbits & Speculation

 

TL;DR

QASH, in the long-run, ultimately aims to become the standard preferred cryptocurrency used by financial institutions worldwide, the value of which is derived from the scale of its utility and widespread usage. The QASH token is also used to fuel payment for fees and services in QUOINE's trading platforms, one of which is an upcoming platform called Liquid+.
 
Liquid+ is a novel platform which I think will change the landscape of the cryptocurrency space. It builds a single massive global liquidity pool called the World Book which allows minor fiat currencies (e.g. Rupee, Peso, GBP, etc.) to trade crypto with the same liquidity that a major fiat currency (e.g. USD) does, significantly reducing losses due to high spreads, and ultimately provides the liquid on-ramp necessary for many potential untapped markets worldwide.
 
The platform also features a Prime Brokerage service (first of its kind in crypto) which will allow users direct market access to many exchanges throughout the world without the hassle of having to manage accounts on each, which mitigates counter-party risk. The Prime Brokerage service will be an attractive vehicle upon which major institutional investors will want to use for managing funds in the cryptocurrency space because it's safe, regulated, and government approved.
 
QASH is created by QUOINE, one of the largest cryptocurrency exchange companies. QUOINE is headed by executives who previously served high-level positions at the world's largest financial institutions. Investors in QASH include financial executives at major institutions, and also a few well known figures: Taizo Son, Nobuyuki Idei, and Jihan Wu.
 

Further Reading & Resources

submitted by swoopingmax to CryptoCurrency [link] [comments]

#DailyMemo on Memo.cash - Post a daily message on Memo.cash and drive adoption!

I see a lot of Bitcoin Cash power users on Twitter and Telegram. Hoping to see more of you join more conversations on memo.cash. Help me help drive more activity to Memo.Cash (https://memo.cash). I'd love to get some others in the community to help. Take 5 minutes out of your day. On your commute to work. Before closing the lid at the end of the day. And share a Daily Memo on Memo.cash. Reply to others. Like some posts. Engage.

Then hop back on Twitter to include say something witty about your #DailyMemo @memobch (https://twitter.com/memobch). Onboard new users via telegram, facebook, etc.

What is Memo.cash?
It might still be a bit clunky, and the UX needs some serious love. But it's a working prototype of what a true censorship resistant social media platform can do.
With Memo.Cash, every message, follow, thread, and poll is stored in op_return and broadcast on chain. Each message is sent with BCH dust amount (allowing the message to piggy back on that transaction). Thanks to Bitcoin.com you can also view those transactions on the Bitcoin.com block explorer.
Memo.cash is also a protocol, meaning any dev can allow their BCH products to support it. You can also spin up your own copy of memo.cash or fork your own.
https://memo.cash/about

Why participate in #dailymemo?
In the wake of the long discussion with Jack Dorsey and Tim Pool on Joe Rogan, it's clear that Twitter and others in this space are watching where things are going with Blockchain technology. I thought it was crucial that more people know that Bitcoin Cash has this (mostly) figured out.

Example on Twitter https://twitter.com/maplesyrupsuckstatus/1105459867119022082

Available on Android
Their app is also available on android (clunky but works).
Memo - App on Google Play

Hope to see more of you onchain!

submitted by maplesyrupsucker to btc [link] [comments]

Log of Slack Talk about Ark SmartBridge and ArkVM

grexx So I think we need to start thinking about blockchain systems as clusters of networks and not one main blockchain. You may have one core token/currency that the other chains recognize and can process as currency (through smartbridge transactions) but then have that pegged to the sidechains for the purpose of accounting in and out of the sidechain that processes the smart contracts. This might allow you to have a scalable network of sidechains running ARKVM and smart contracts that users could select between in congested periods while still using the main ARK token as currency in and out of the sidechain. If that makes sense. I missed a lot of the argument above and just saw some discussion on VM and sidechains so wanted to see what all the fuss was about but I don't have time to fully get caught up. So correct me if I missed the core of the concern/argument Ultimately for scaling efforts to work, people are going to have to start thinking outside of the box and doing everything on one chain isn't the answer. the one thing you want to avoid is having too much extra data being processed on the main chain you want to keep it lean and focused on payments as effectively as possible It's extremely cumbersome to spin off an entire blockchain just to run one dapp/smart contract I'll be better off joining an already popular chain with the vm enabled So this is something I think is misleading. One major facet of ARK is that we are going to seriously lower the barrier to entry for deploying blockchains. On top of that, there would be several economic models for the person running the chain to secure delegates. They could potentially offer profit sharing, i.e. if the contract charges a fee to run, a portion of the cost of using the dapp/smart contract goes to the delegate pool. They could fund it themselves as you mentioned through some form of contract, or they could create a model we haven't even thought of yet, like in game perks, company voting rights for delegates, etc. Remember that a sidechain isn't necessarily just a smart contract, it could be a companies entire product rolled into a dapp using a blockchain that they don't want bloated or effected by other data they could close off that blockchain to deploying or processing smart contracts outside of their dapp and simply have it serve the purpose of their product. That would be just one use case of deploying an ARK compatible chain You could accept ARK into your sidechain through a pegged mechanism as payment for utilizing your smart contract/dapp and then have the contract that accepts that ARK peg distribute tokens to the delegates that could then be withdrawn to the main ARK chain through the smartbridge from the associated main chain account which does the financial accounting for the sidechain
grexx No matter what you think about ethereum's scaling solutions, it has 100% not been proven to actually work up to this point. If I was a product owner, I would not want to rely on the ethereum developers or the ethereum blockchain at this point for my entire business model Look at how many businesses right now are effected when something like CryptoKitties kills the Eth blockchain how would you feel if you are a company with a product and some asshat mobile app for trading digital cats shuts down your business for 4 days and you lose a weeks salary for your employees due to the losses it's an unsustainable business model We are going to make it to where anyone can deploy a blockchain as easily as they would deploy a VPS or a website. In some industries, like gaming, it might become a badge of honor or an esteemed position to be a delegate for those chains. It could even be incorporated into the game itself. For larger corporate environments, they may not care about having it be as decentralized as you and may have a series of corporate partners collaborate on running a network they use among several companies for a product line who knows what people will come up with we are building the tools to create new business models, building them off the ARK brand and with built in compatibility to create inter-chain operations in the future as we learn where those new opportunities lie the reason everyone uses ERC20 and runs on Eth right now is because they have no other option without putting in serious man hours to launch their own eth chain We have talked to countless teams building on Ethereum right now who wish there was another option. Everyone in this sector has a different view of how this all plays out. Ethereum has their vision and anyone who wants to support them is probably making a great decision. They have some of the smartest minds working on the issues with their network but it doesn't mean it's the right answer in every situation.
moonman This doesn't address how to run trustless swaps when the main chain doesn't have a VM, which is one of the main Ark products people are looking forward to. You're saying that the sidechain needs to be funded by the runner, but then that again kills the point because then it's centralized and requires some dude to back his own tokens for the swaps, which is nonsense.
grexx I didn't say it needs to be. I said there are several options of how to secure delegates for a sidechain.
moonman I'm not talking about securing them. I'm talking about a specific product that has been hailed as the holy grail for ARK - trustless currency swaps How do you propose it works with a sidechain when sidechain tokens have no value compared to ARK?
grexx If the sidechain requires money to swap into the sidechain in order to secure an action, then the money is supplied by the people using the service.
goldenpepe There is lots of confusion and mixed messaging as to what Ark actually is Is Ark a way to connect blockchains? Or is Ark a platform?
goldenpepe The people that believed the former were confused as to why the VM isn't going to be on the main chain Since that would allow trustless swaps But apparently it isn't
moonman I'm asking about trustless swaps. There are 3 parties in this equation - the main chain ARK that is swapped in, the side chain token, and the target currency that is outside Ark's chains. If ArkVM was on the mainchain then it is simple to require collateral on the ArkVM side and then release it after. With a side chain, this isn't possible because the tokens used to faciliate the transaction between for ex BTC and ARK have no value @grexx
grexx I don't think there is confusion or mixed messages. I think ARK has the potential to fill roles we haven't even thought up yet. I think the confusion is in what YOU personally want ARK to be and what you see as the killer application, and maybe a difference in priorities.
goldenpepe No, based on everything I've seen it's the former
grexx But always remember I am only here to speak for myself and not the team in any sort of proper spokesman role.
moonman It's not "us personally" - we run the largest and most active Ark community outside of this slack.
goldenpepe If it's the latter then there needs to be better communication
moonman We have a point of reference to know what people are expecting or investing for / want
goldenpepe I keep seeing people pushing the "smartbridge" as a way to connect chains
grexx Does there? Why? Because you say so?
goldenpepe I see encoded listeners being pushed
moonman Because everybody says so.
goldenpepe
People keep talking about how Ark will connect every chain using encoded listeners and "embedding the code snippet"
grexx The intention was to fulfill both roles. To create push button blockchains with the ability to share data between each of those chains.
goldenpepe But how do you fulfill the former without a VM on the main chain?
You can't do trustless swaps without it
moonman Our question is directly regarding HOW this will technically be possible without VM on the main chain without trusting centralized nodes.
ArkVM was pitched as the solution to centralized nodes.
Without it in the equation it's just an open source ShapeShift
goldenpepe I said this earlier, but there needs to be a real whitepaper
A fully technical explanation of all the technology and how everything is supposed to work
grexx So let me ask you this just as a philosophy/feasibility question. Would you rather see a closed smart contract system on the main chain that only allowed contracts for trustless swaps between chains but not necessarily open deployment of smart contracts, i.e. you wouldn't be able to deploy cryptokitties to the main chain to run your business but we would be able to deploy a contract to allow trustless swaps between the sidechain that runs it, while still balancing out the need to keep the majority of application traffic off of the main chain to avoid bloat/congestion?
moonman If you're asking if we/people want main chain VM exclusive use for trustless swaps, the answer is absolutely YES
If main chain was limited to swaps it would address all the concerns we and fellow Ark holders we've talked to have
goldenpepe My concerns are slightly different and related to the forked chains themselves
the_stalker You tell them @moonman
goldenpepe I don't see how segregating the VM to another chain will solve bloat
grexx I see that the argument focuses down to trustless swaps being the key component that is desired, but the ARK teams major issue with allowing deployment of contracts in the way it works currently on Ethereum is with the bloat/congestion issue
goldenpepe devs that want to deploy a smart contract will just join a chain that has the VM enabled already
That will lead to the problem ethereum is having now
moonman If swaps were the exclusive use of VM on the main chain it would avoid bloat.
spghtzzz Sidechains will have ARK valuation?
goldenpepe That's the thing though
I don't see how segregating the VM into its own chain will solve bloat
Everyone will just congregate onto a single popular VM-enabled chain
goldenpepe It'll be an ethereum clone
grexx If application are functioning on individual connected sidechains then the majority of in-application processing could be accomplished on the sidechain with pegged trustless swaps back to the main chain and the only accounting on the main chain is the accounting
moonman I think I understand what the team is getting at with deploying sidechain VMs, I am simply worried that the biggest pitch that people have repeated back to us is not possible without the main chain VM being able to be used for swaps.
@goldenpepe They won't because there will be no valuation incentive.
spghtzzz So trustless swaps will be available then
moonman So the private chains will stay "private"
@spghtzzz No, he just asked us as a "what if", but hopefully he asked for a good reason :slightly_smiling_face:
grexx I am not allowed to divulge key internal information, but I do enjoy talking these things through and getting feedback/opinions (edited)
spghtzzz If sidechains can have proper valuation in ARK, just start a decentralized-oriented chain and make trustless swaps available
moonman That runs the risk of dethroning ARK, which would be the other issue.
goldenpepe I mean, answering technical details of how this should all work on a high level shouldn't be "key internal info"
That's our biggest worry: the promises aren't technically possible
moonman You're not selling to just investors here, developers like us want to know how this is going to be done because it's why we're here in the first place creating things on ARK and running delegates - we want to see it succeed and we're currently between a rock and a hard place trying to get an explanation for "HOW" this is going to happen.
If you're telling us that the intended use for ark is different from what nearly everybody we asked concluded from the marketing, it feels like we bought into a bait and switch or there was a severe breakdown in communication. (edited)
spghtzzz Dethroning won't be an issue though, if everything is measured out in ARK, that's incentive to have/use ARK. (edited)
moonman It can't be measured out in ARK if the main chain has no VM, because the sidechain token HAS to have a valuation in order to do the swaps - in which case there's no point in swapping to ARK in the end anyway @spghtzzz
spghtzzz I'm confused though, isn't that what smartbridge is for?
moonman smartbridge is a text field
jarunik Basically you need native bridging before it can work.
grexx I hear you and I am taking notes on some of the issues. From the very beginning, at least as far as I am concerned, ARK has been about community development and building this out as a team. Unfortunately in this industry, people do like to cannibalize and sometimes it's hard to know how open to be. I think we are seeing a little bit of a conflict between those two philosophies. I think it would only be beneficial to get input and to do some sort of technical sessions with some of the prominent devs in the community for feedback and solidifying some of these topics. All we can do is end up strengthening the final vision. That being said, everyone obviously on the development side keeps very busy and we have multiple time zones, so I am not sure how complicated it would be to setup.
I wish we had an upcoming event everyone could meet up at and have a 3 day whiteboard session lol
goldenpepe
If you're telling us that the intended use for ark is different from what nearly everybody we asked concluded from the marketing This. Ark was marketed to me as a middleman to let other chains communicate 1 reply Today at 7:13 AM View thread
goldenpepe Ark being a platform of forked chains is something different
moonman It can be both with your "philosophical" suggestion of only allowing main chain VM for swaps.
goldenpepe Maybe this is a reason to start marketing/doing PR :wink:
B.Lawrence.Lowe I always thought it would be both. Was I wrong?
goldenpepe It can be both if the VM was on the main chain
grexx I don't think ARK is an eitheor of the above proposed uses, I think the intention is a both.
arigard Isn't aces connecting the block chains?
goldenpepe Mostly on our discord with other devs
ACES is shapeshift
moonman ACES is centralized @arigard
goldenpepe It's not decentralized or trustless
grexx Aces requires trusted intermediaries
atm
moonman We were under the impression - and I think ryano was as well - that ArkVM would allow things like ACES to function trustlessly using a main chain VM implementation
goldenpepe Yea, I remember when ACES was first released and we talked to ryano about it
moonman So it could become more than just "open source shapeshift" (edited)
goldenpepe Even he said smart contracts could be used to do ACES in a trustless manner
But that's not possible without the VM on the main chain
grexx No I mean I get what you are saying. Look if we launch a fully integrated open source ARK blockchain with full ARKVM functionality and anyone in the world can clone it and publish an Ethereum competitor on the spot, we always ran the risk of someone forking/cloning ARK and stealing our thunder, but that is a risk we are willing to take.
We won't intentionally hamstring ourselves
who said that?
grexx ARKVM was on the initial roadmap from Day 1
grexx Technically it was on the roadmap at Crypti
mike The main chain is only to provide communications among bridged chains, and send payments in Ark among addresses, just as TCP/IP is only used to send data among IP addresses. Applications seeking trustless operation can run their own bridged chains with multiple delegates forked from Ark and configured to their own custom configurations, or they can even use a different consensus system altogether. Enterprise applications can run permissioned ledgers using an Ark fork since it is very similar to DPoS, except they control who can be delegates, like EduCTX as an example. ArkVM will be available for those who want to run Solidity contracts, either as their own forked and bridged chain, like if they have complex contracts and/or high volume, or can run their contracts on a public ArkVM chain bridged to Ark. ACES is also available as a trusted listener and relay node option to other chains. There are plenty of options for difference use cases and preferences.
goldenpepe But Mike, wouldn't being forced to fork off your own chain every time you wanted to create your own dapp/smart contract be extremely cumbersome?
jarunik It is already really easy to clone
goldenpepe How is it easy? You need to set up your own servers, find people to be your delegates, acquire a stash of ark
If you end up being your own delegate then there goes decentralization
moonman I understand and agree with the use case OUTSIDE of trust less swaps. But in the context of trustless swaps, which has been Ark's biggest selling point everywhere we asked, it would only be possible if the main chain had VM or a sidechain token had a valuation, in which case there would be no reason to swap back to ark. Were trustless swaps not a big part of the internal goal of what ArkVM aims to accomplish? How would it work with just side chains without stealing Ark's thunder? @mike
ryano I've talked about trust and the design of ACES in many posts. It often gets argued as not being trustless, but I do state that the ACES design is intentionally "trust agnostic" because there are many different views on the right way to build blockchain services. Not all parties believe trustless is even a thing. For example, even in smart contracts that are "trustless" you must trust the code, and very few people will critique the code, so you end up with a single point of trust failure. My personal favorite approach is M of N multisig, and this can reduce trust to a statistically insignificant amount (though by definition, as perhaps with all things, not 100% trustless).
spghtzzz if native function is built in v2, we can see trustless swaps
ryano as far as ACES being shapeshift, this is true to an extent. But shapeshift is like one single provider. A 1 of 1 signature service. With a marketplace we can build a system that has ways to manage trust using well studied trust based marketplace. And despite its name, the trust factor can be minimized towards zero with multisig
goldenpepe Who knows what protocol changes v2 will bring
moonman @ryano There's no such thing as multisig swaps though - that's sort of what it would be if main chain got VM - you could have 51 delegates to "decentralize" the contract and ensure it stays trustless. The current ACES implementation is entirely centralized around the specific node running it.
moonman A marketplace isn't decentralized, it just means you have more trust options. It's not "trust agnostic". You're only trusting one node, but you get to pick the node.
ryano Thats not true if it a multisig service
goldenpepe Another thing: wouldn't the forked chains require a stash of Ark?
moonman The problem with that is you're still trusting the few running them - they're not backed by ARK voters.
goldenpepe From what I remember Mike said, the forked chain's delegates will also be running Ark nodes which is how the forked chains' clients can communicate to Ark
moonman If you could lock ACES down to be ran just under the delegate nodes ran under ARK itself, it could work.
goldenpepe But in order for that to happen, the delegates would need a stash of Ark in order to send Ark txs, no?
grexx I think there has always been an intention to have a marketplace of service providers who could be rated and would allow a more "trusted" environment but I get the argument against that model.
spghtzzz yes, it's a trust of consensus
moonman If ArkVM is being ported, it could be avoided and would renew and bring new faith into Ark if the main chain could become the central trustless hub for swaps. For other dapps I understand the hesitation due to bloat, but due to how the marketing was perceived or communicated I'm afraid that everyone we've spoken to or conversed with about the topic is expecting that specific dapp to play a central role in Ark development/adoption - which is why we were all taken aback when we were told that the main chain wouldn't have VM.
grexx But this here is exactly what led to the discussion above. What you describe here would then basically be a smart contract. Moon Man If you could lock ACES down to be ran just under the delegate nodes ran under ARK itself, it could work. Posted in #generalToday at 6:58 AM
moonman There's no way to lock it down trustlessly though without also having it interwined with ARK
He can't "Force" nodes to run ACES, that's the problem.
Then the issue is we don't know who we are trusting.
Then you get other issues like sybil attacks
ryano I'm trying to dig up an important article on this topic, but you should all get familiar with the advantages and disadvantages of smart contracts vs. M of N multisig
moonman That's why DPoS is good - it solves these issues.
ryano you'll find very material advantages to multisig that are not often discussed, ones that fit very nicely in well studied and proven marketplace-like ecosystems
goldenpepe Aren't atomic swaps basically that?
ryano Were building ACES trust-agnostic for this reason, because if people want to built "trustless" services, which can be argued to be trusted anyways, theres no reason not to provide the ecosystem to communicate their services
but there will be many other services just using multisig to reduce trust
jarunik Someone will sure launch a clone chain which offers VM services
ryano this is how its done in bitcoin and monero, and is more powerful than people let on
moonman And then it overtakes ark if it carries ark features but has a swaps-capable VM, which is our other concern.
jarunik You will better be running it then!
ryano If i have 5 service providers, and a service is set up as a 3 of 5 signature service, those 5 providers are all listening to the external chain, possibly subscribing to different listener sources, and then verifying back to ark, like an oracle, that the requested event occurred. This is a simple binary oracle response, and can be entered as signature. Sign = yes, no sign = no/unsure.
moonman You have to trust those 5 providers though.
ryano You would then need 3 bad actors for this to fail.
moonman And what happens when you have sock puppets
that's how sybil attacks work
You spam the network with sock puppets
goldenpepe Yea even Tor got sybil'd
moonman If you can't add your own sock puppets, then what's the point of having 5 sigs if one person chooses all 5? Then you're just trusting the creator
goldenpepe but tbh, monero is vulnerable to sybil too
moonman The reason ARK will help with this is you are tying the 51 sigs to existing delegates that were voted in by ARK users.
They're "trusted" but decentralized in a method that makes sense given the platform
ryano well, why not use those delegates as your signers then
moonman There's no way to force the delegates to run the service
That's the problem
ryano no forcing anywhere, but incentives
goldenpepe Not unless the ark team embeds aces into ArkCore
B.Lawrence.Lowe What about incentivizing the delegates to run the service somehow?
moonman It won't matter. It's too easy for them to just say "I'm not interested or don't want to" and then you get attacked by those who are running it. It just doesn't make any sense.
moonman A second layer solution doesn't work simply because you can't enforce delegates running the service.
ryano But why do you trust the delegates?
moonman I don't - voters do.
I trust the collective voter choice vs your choice of 5 signatories
B.Lawrence.Lowe Voter here. I tust my delegate. He;s always paid me on time.
moonman It's about who ARK voters trust.
Because ultimately that's what powers the platform - trust in ARK and ARK holders
spghtzzz why do you trust a delegate who won't even reduce your TX fees?
goldenpepe I don't get it
ryano even with smart contracts, since were dealing with external chains, you need to trust a source to confirm that something from the outside world happened
spghtzzz explanation provided yesterday in #delegates if that was toward me @goldenpepe
moonman Correct - but it is far less concerning when that source is the 51 delegates.
Rather, when the source is confirmed by the 51 delegates
ryano but now instead of 51 delegates its 51 listener hubs
or even more
moonman Yes, but again, sybil attacks...
B.Lawrence.Lowe Right, and just like a representational government, as a voter I trust my delegate. I thought this is how this worked, yes?
moonman If you select the hubs, it's centralized to YOU selecting them. If you don't, it's open to sybil attacks from sock puppets
If it's limited to the delegates, it makes sense in the context of the ARK ecosystem because you are trusting your currency to those 51 people in the first place
B.Lawrence.Lowe He takes my votes and makes decisions for the community in my best interest, as his constituent, right?
moonman The only way to enforce the consensus is to build it into the core so delegates have to run the platform and keep the swaps "dapp" secure and running.
anyway, I've explained my case. Hopefully what I said made sense.
mike The original plan, and still the plan, is to interconnect other blockchains, which can be existing chains or new ones forked from ark. We have added ArkVM as an option to be added to the deployable chains, and run a public ArkVM chain. Ryano has also come up with ACES, as another, streamlined method to exchange and interact with other chains, which is an example of Ark allowing different methods to be developed to accomplish objectives. A non-turing complete VM meant only to facilitate cross chain swaps is a viable option as well, and can run as a bridged chain.
ryano You could reduce the risk of sybil attacks by doing something similar to how ark does voting. A listener source would have to be tied to an ark address, so you would see their "stake". In this case attempting to run 51 listeners to do a sybil attack would require you to reduce your stake, and likely be less attractive to users
moonman @mike How does the bridged chain function as a method for these swaps though? What do you envision as the technical flow for this?
@ryano You could do that, but then you're doing almost exactly what I mentioned before - making your own ARK clone but with swaps. (edited)
What would be the requirements for running the nodes? How would you force consensus without running its own blockchain?
goldenpepe @mike I recall you saying deployed chains' delegates will also be running Ark nodes which is how these chains will be able to communicate with Ark. But wouldn't that require these forked-chain delegates to maintain a stash of Ark? Wouldn't the chain become completely isolated once their delegate nodes run out of Ark?
moonman If it's not an ARK clone and just listeners - that means no PoW, no DPoS, what are you going to do in your listener code to enforce consensus
The only thing you can do is have more oracles checking the top 51 delegates and matching it with signatures provided by listeners - but then THOSE oracles get sybil attacked!
mergatroid You know on the roadmap where it says all of the goals, and tech documentation is at 25%
B.Lawrence.Lowe @mike "The original plan, and still the plan, is to interconnect other blockchains, which can be existing chains or new ones forked from ark." This answered my main question. As long as by "existing chains" you clearly mean, Bitcoin, Ethereum, Litecoin, Dash, Stratis, Waves, etc.. Not sure how it will all work because I don't code, but if you're confident in getting it done, that works for me.
goldenpepe @mergatroid All the questions we're asking could have been answered with a technical whitepaper, but it doesn't exist and the existing whitepaper is outdated.
mike they would run ark clients, which interact with the Ark chain, the various ark-cli clients that are available, or they can run full nodes with their own copies of the ark blockchain, it's up to the developer of a particular bridged chain how he wants to configure it.
ryano time to update that white paper :stuck_out_tongue:
goldenpepe But the pushbutton deployed chains will all need a stash of ark, no?
spghtzzz it'd be nice for interoperability purposes
mike They will need Ark to write data to the main ark chain using the vendor field. they will not need ark to run listeners and read the vendor field from transactions addressed to that chain.
cannabanana Dudes, all I can say is that this blockchain is less than a full year old. We've been already been looking for a technical writer for a whitepaper 2.0 and techincal whitepaper.
mike if they want to use Ark as a reserve currency to back exchanges between other chains they would need that as well.
mike As canna says, we are hiring for a technical writer to update and add to the documentation, and hiring in general is ramping up now that the SCic is in place.
goldenpepe @mike Do you envision in the future there will be an ark-fork with the VM enabled that will essentially be an ethereum clone where all the devs gather to play with smart contracts/dapps?
mike yes
moonman Do you have any worries that any such chain may overtake ARK itself? @mike
goldenpepe I'm more concerned over that chain becoming bloated which defeats the purpose of moving the VM to its own chain in the first place
mike no, it is for a specific type of use, smart contracts to provide ETH type functionality.
moonman Grexx mentioned a separate chain for each major dapp.
That would reduce/remove bloat
goldenpepe It'll get very confusing if you have a bunch of large open VM-enabled chains.
"Have you seen ArkieKitties?" "Where? On ArkFork1? Fork2?Fork3?"
goldenpepe It'll lead to fragmentation
spghtzzz ecosystem, fragmentation is good
in some senses..
goldenpepe uhhhh
ryano Ark.Kitties
goldenpepe No it isn't lol
moonman It's good for the network, not for user interaction.
goldenpepe ^
ryano depends how its designed i think
can be done well
goldenpepe @ryano I also brought this up
moonman Yeah I think it's a minor issue as well, it can probably have a directory or its own DNS-like service in the wallet
goldenpepe So if I want to create a super cool new dapp, I'll need to fork off my own chain, find people to be my delegates, then give them a bunch of ark
ryano In ethereum you need to know the contract name to interact with it, so why not required to know the ark chain id?
goldenpepe It's too cumbersome
mike separate chains is the preferred method, and for a lot of things requiring complex code, Solidity contracts aren't the best way to go. But for those wanting to port Solidity code to Ark, either on a public chain or their own chain, ArkVM will provide that option.
goldenpepe Yea I was thinking that
Small contracts can exist on a shared chain while large dapps like kitties or an ICO can exist in its own chain
Large projects will have the resources to fork, find delegates, and fund them
But that will still create fragmentation if there exists multiple large public VM chains
mike I see ArkVM as a way to onboard projects and developers from Eth over to Ark, but then they may optimize for more efficient operation by writing code from scratch specific to their needs instead of running on solidity. As an example, non-turing complete application specific code is more reliable in that it has a finite set of states where as Turing complete code has an infinte set of state, not all of which can be known.
if the multiple large public chains are bridged, contracts running on them can still communicate with other contracts running on the other large public VMs.
goldenpepe Bridging them won't help if the dapp you want to access is on ChainA and ChainA takes hours to process a tx because of bloat
mike It's analagous to code running on Amazon servers can communicate with code running on OVH servers via TCP/IP, like delegates now communicate with each other while running on different data centers.
grexx just for reference, the intention is to make discovery extremely easy and for the average user, they will have no idea what chain they are on or how it works.
they will just buy kitties and be happy
goldenpepe @grexx It would be great if the wallet could do that and it would solve fragmentation issues
"Chain-hopping" being completely transparent to the user
grexx that is a top priority
goldenpepe But how will we deal with a certain chain containing data you need being slow?
grexx same way the free market deals with anything
if your service sucks, improve your service or get beat by competition
goldenpepe The bloated chain will lose users?
mike If a public VM degrades in performance then there is a market for another public VM, and the existing one can upgrade its performance to remain competitive.
grexx sidechains can increase capacity through better hardware with the upgrades being made
goldenpepe But blockchains are sticky (to use an economic term), people will be less prone to switch if all their assets exist in that slow chain
Look at bitcoin
grexx but then again like I mentioned way earlier
goldenpepe Slow as fuck but people still use it because they're invested
mike gress is a faster typist than I am...
grexx connected clusters with pegged assets I think are a potential answer
within the sidechains
well if you look at the main ark chain, we have 8s blockchains to maximize use case as currency
but a sidechain depending on its needs wouldn't necessarily have to have 8s and could probably do a lot to increase tps and other factors
those are all things we will min/max on devnet though
mike If a given VM chain becomes bigger than Ark and wags the dog, that is part of the evolution. We don't want to try to force the ecosystem to use Ark but instead attract them to do so. We don't want to be like New York banning railroads from entering New York City to force traffic to use the Erie Canal.
grexx all of crypto is an experiment and we have no idea what models will ultimately come out of it, especially when we make it easy for anyone to launch their own fully capable smart contract enabled blockchain (eth clone)
so there is definitely some inherent risk as with investing in any emerging technology
moonman Pegged assets would address my concern regarding sidechain valuations and their use in swaps, but pegged assets have never worked in crypto except for Tether which is centralized and potentially a fraud.
goldenpepe Didn't someone mention forking ark and printing USD-backed coins?
moonman We did lol
I never said it was a good idea
moonman I was going to mention bitshares @bluffet
Bitshares isn't stable
Their pegs have fluctuated WILDLY in the past
goldenpepe Bitshares got delisted from bittrex and is in deep shit with the SEC though
mike Yes, TCP/IP was originally just to connect academic and research lab computers to share files, evolved to add email, then web, and now all kinds of applications. None of this added functionality was planned or conceived when TCP/IP was first invented.
bluffet I know, moonman. It is a liquidity issue. The market solves it.
moonman Tether never had this issue though (I don't have a good reason for why - bitshares is infinitely better designed yet economically worse than tether)
grexx in 3 years we may look back and think, holy shit, I never saw that coming. People are innovative and when given time, always end up exceeding expectations. I guess we are starry eyed dreamers in that we want to create something that empowers a new generation of innovation and accessibility in the space.
bluffet I liked your discussion today, guys. I learn from it.
grexx bitshares along with all of dan's projects have the problem of being centralized within a small group of connected supporters (edited)
goldenpepe Yea this was a good conversation
submitted by Jarunik to ArkEcosystem [link] [comments]

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Pool-hopping is the practice of mining in a pool only during the good times, and leaving during the bad times; by so doing, a pool-hopper can get more out of the pool than the value they contribute to it, increasing their rewards at the expense of other miners. Bitcoin Pooled Mining (BPM) This method also helps to prevent pool hopping. Peer-to-peer Mining Pool. A P2P mining pool is a system that decentralizes the entire pool mining process and removes the chance of the pool operator from cheating its miners. It also helps to remove the point of failure from if the pool operators’ servers go down Pool hopping attack is the result of miners leaving the pool when it offers fewer financial rewards and joining back when the rewards of mining yield higher rewards in blockchain networks. This is thoroughly discussed in Analysis of Bitcoin pooled mining reward systems, appendix "Pool-hopping in proportional pools" (the appendix assumes the relevant sections in the body have been read). Slush pool follows a score-based system to discourage pool hopping and claims a 2% fee from every block reward. The dashboard of the Slush pool is very user-friendly and you can get detailed regular updates. Pros: Score based method will discourage pool hopping and reduces the risk of cheating; User-friendly dashboard; Cons: 2% fee is a bit

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WHAT IS BITCOIN AND HOW TO BUY CRYPTOCURRENCY

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