ALTcointip bot allows Redditors to tip various cryptocoins to each other. 15 cryptocurrencies are supported - Bitcoin, Litecoin, Peercoin, Primecoin, Namecoin, Megacoin, BBQCoin, Digitalcoin, Infinitecoin, Ixcoin, Mincoin, Quarkcoin, Stablecoin, and Zetacoin.
Support returned the balance and claims that there are problems with the wallet. " The NMC wallet isn't working properly so we temporarily disabled it. We are working to have the wallet re-enabled as soon as possible, but we don't have an estimate on the timeline at the moment. We will notify you here once the wallet is re-enabled. Please be aware that due to this interruption the delisting date for NMC has been extended to July 17th 2019. Best, Poloniex Support Team" Can anyone withdraw? Possibly this is just the coin-selection algo gone wrong. Isn't this problem fixed already on the latest version? How can it take weeks just to update a wallet? do they know how to compile? ...
This is Why Dogecoin is Better than 'Altcoins-Degenerators'
While large majority of the altcoins are being on a straight-down path, a coin that was made as a joke and seemingly has had no recent major development is proving store of value (SoV) properties. Popular crypto researcher and analyst Willy Woo posted both on Twitter and website his opinion on the type of altcoins of interest to investors. Regardless how nuanced altcoins are, manifesting as protocol coins, utility tokens, security tokens, and non-fungible tokens, the only two types that are of relevance to an investor are: Oscillators and Degenerators. To show both types, Woo provided a chart of the market. https://preview.redd.it/xr1pb1w88nx31.png?width=900&format=png&auto=webp&s=513e3c9af7ddf8ffa414758221e5789cab84eb59 However, the great majority of all altcoins are Degenerators, says Woo. “Their price chart has a measurable half-life, like radioactive decay. Plotted on a log chart, it's a straight line down,” he explains, providing Namecoin (NMC) as an example. On the other hand, there are only a few Oscillators, and one of the most surprising examples is Dogecoin (DOGE), initially made as a joke and now ranked 30th by its market capitalization (USD 326 million). How is a coin an Oscillator, I hear you ask. Woo says that Oscillators are proving SoV properties. “To qualify,” he adds, the coins “need to keep up with Bitcoin (BTC)/USD gains.” In order to find oscillators, plot a coin’s BTC value. It must oscillate around a horizontal line, for at least one full bull-bear cycle, which is around four years, but more than one cycle is better, the analyst explains. One doesn’t need innovation and cutting edge technology to build value in their coin, says Woo. “These are monetary instruments, they build value with economic network effects.” He finds Dogecoin as an example of an altcoin with no particularly significant technology or smart contracts, nor has it solved some of the major issues in the crypto and blockchain world. If we look at its GitHub, we see the last activity recorded 5 months ago. However, the researcher believes that Dogecoin achieved SoV due to the Lindy Effect. The Lindy Effect is one of the more interesting things you’ll come across in your daily life wherever you turn. It basically means that future life expectancy of a non-perishable thing is proportional to its current age – its mortality rate decreases with time. So, if a technology is six years old, like DOGE is, it’s expected to last six more. Next year it’ll be seven years old, and if the effect persists, its life expectancy will be that much longer. “An oscillator can always breakdown. Due to Lindy Effect, it becomes harder the longer it stays an oscillator,” Woo writes. Furthermore, DOGE is listed on nearly all exchanges, it's supported by most wallets, and it has a liquid market, says Woo. Another example Woo gave is DCBTC, which he finds to be at a critical stage as it’s about to complete its first full bull-bear cycle. “It needs to emerge cleanly holding its horizontal oscillation against BTC. Only then can we say it's achieving SoV properties.” On a question if all this means that all stablecoins are Degens, which would lead to a conclusion that all Fiat currencies are too, Woo replied with “Correct.”
Greetings bitcoiners! I've seen a lot of discussion on here about starting a distributed exchange, and been inspired by the Satoshi Square (project buttonwood) posts. It got me thinking. What if there was a way to advertise the fact that you are looking to buy or sell bitcoins, everywhere you go? Every day you probably walk past dozens of people who would be happy to trade some cash for BTC, or vice-versa (if you live in a city, anyway). What we need is a universally recognisable logo that lets anyone that sees it know you're looking to do a trade. To this end, I'd like to suggest a competition, right here. Graphic designers of reddit, submit your designs here. The winner (and the prizes) will be determined by the entry that attracts the largest amount in tips from the bitcointip bot. You get to vote with your bitcointip wallet, and all entrants have a chance of getting some BTC! The design needs to be simple, incorporate one of the standard logos, and it's purpose should be apparent to anyone that's heard of bitcoin. Remember, bitcoin is borderless, so the design needs to be UNIVERSALLY recognisable! That means no text (apart from the B in the logo). Closing date: 31st May. The design would be licensed in the public domain (or creative commons? I'm not sure which would be best here, but I don't think attribution would be practical), so anyone can manufacture and distribute merchandise displaying the logo. T-shirts, hoodies, badges, buttons, baseball caps, beanies, whatever - let's start printing buttons like the central banks print fiat! This is what bitcoin is all about. Distributed, peer to peer transactions. TL;DR Design an "I want to trade bitcoins with someone" logo, get bitcointips! Edit: Unfortunately this hasn't quite had the response I was hoping for. Nevertheless, to show my appreciation, I'll be sending a few bitcents to those who have made positive contributions.
So it's running (0.013 BTC/day, yesterday...) My optimistic calculation is that I expect to maybe make 1BTC in about 1.5 years. I'm not worried about ROI because I'm one of those fanatics that believe bitcoin will be zero or hero, 1M or bust. However, given that I hate altcoins... should I start mining them with the asic, or is it just too much hassle. Would I need to spend a handful of hours each week reading stuff and installing / fiddling with it (which I'm really not interested in). I like that I'm contributing to the bitcoin network, but if I can get 3-5x better returns I'd be interested. Thanks for your opinions, and sorry if you get this post a lot. Just for the sake of getting a torrent of abuse, I'm quite happy with BFL. They said "you order nothing, and you might get in whenever" I waited, it arrived. Easy non-cash. PS - I have half a theory (or less) that bitcoin price might dwindle to 100-300 over the next 3-6 months. If so, maybe difficulty will give me a minor break. Or are the next-next generation of asics just going to squash mine like a fly? Am I already running utterly obsolete hardware? Worst case, it looks like I could get 0.6 BTC for it on ebay. Also, what If I run this for 6 years? Will we really be looking at peta-hashes in 6 months time?? Thanks guys and gals!
Update: We have added over 100 new coins to Tellus, you can now top up your NGN or ZAR balance with over 150 different cryptocurrencies.
Update: We have added over 100 new coins to Tellus, you can now top up your NGN or ZAR balance with over 150 different cryptocurrencies. We have also activated exchange, this means you can now swap NGN or ZAR for Credit instantly and vice versa. We will bring FIat services online for ZAR and NGN before the end of the month, which will allow for fiat deposits and withdrawals in Nigeria and South Africa. Tellus coin list: Credit CREDIT Bitcoin BTC Litecoin LTC Aryacoin AYA Badcoin BAD Bitcoin Diamond BCD Bitcoin Cash BCH Bytecoin BCN Beam BEAM BF Token BFT Bean Cash BITB BlackCoin BLK BNB Coin (ERC-20) BNB Bitcoin SV BSV Bitcoin Adult BTAD Bitcoin Gold BTG BitTorrent BTT CloakCoin CLOAK ClubCoin CLUB CrypticCoin CRYP CureCoin CURE Dash DASH Decred DCR DeviantCoin DEV DigiByte DGB Dogecoin DOGE eBoost EBST EOS EOS Ether Classic ETC Ether ETH EUNO EUNO STASIS EURS EURS EventChain EVC Expanse EXP FLASH FLASH Fuel Token FUEL GameCredits GAME Goldcoin GLC GlobCoin GLX Groestlcoin GRS Gemini dollar GUSD KuCoin Shares KCS Komodo KMD Kinguin Krowns KRS Lisk LSK MonetaryUnit MUE NAV Coin NAV NEO NEO Namecoin NMC NOAHCOIN NOAH PIVX PIVX POA20 (ERC20 Token) POA20 PotCoin POT Peercoin PPC ProCurrency PROC Pura PURA QASH QASH Qtum QTUM Resistance RES Rasputin Online Coin ROC Ravencoin RVN RevolutionVR RVR Steem Dollars SBD Siambitcoin sBTC SkinCoin SKIN SmartCash SMART Snowball SNBL Sirin SRN STEEM STEEM StorjToken STORJ Stratis STRAT Syscoin SYS TokenPay TPAY Triggers TRIGGERS Tronipay TRP TRON TRX TrueUSD TUSD Ubiq UBQ UniversalCurrency UNIT USD//C USDC Tether USD (ERC20) USDT.ERC20 Vertcoin VTC Waves WAVES Counterparty XCP NEM XEM Monero XMR Stakenet XSN VERGE XVG ZCoin XZC ZCash ZEC Horizen ZEN
As I said in another thread, I'm quite new to this, and have only been mining for the past couple of weeks. I was wondering: If the BTC price has hit a point where it is technically unprofitable to mine, why give up on your endeavor vs. keep mining in the event that the BTC market takes a turn for the better and ends up being profitable? honest question here, I'm not trying to be an a-hole or anything.
I am familiar with bitcoin but not namecoin. Interesting only in establishing some domains as censorship insurance not speculating or trading namecoins. I could run a miner on an extra computer. Is that best way to start to buy a domain name?
Check this out, it's very similar to namecoin's id/ feature (but apparently more restricted in scope). https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2018-Octobe016444.html nyms are registered with an "enrolment" process and an additional "proof of burn". This seems to allow for a variable cost when registering nyms, unlike namecoin which has a fixed cost (when denominated in NMC). That leads to a secondary question I've been pondering - what is the reasoning for the fixed fee, and how would namecoin allow for market based pricing of name/domain registrations? I understand there's already a market rate in the exchange rate from BTC to NMC, but what happens if NMC becomes very expensive or very cheap?
The Decentralized Exchange You Have Been Waiting For
The Blocknet is a protocol which allows for the peer-to-peer exchange of coins between different blockchains via atomic swaps (e.g. Bitcoin for Litecoin). Anyone is able to build an application relaying the Blocknet protocol, however, one of the first use applications will be the Blocknet’s own Decentralized Exchange, which is being released in beta on March 1, 2018 Below are 5 Reasons why The Blocknet’s Decentralized Exchange is the decentralized exchange the crypto community has been waiting for:
Attracting liquidity is a major hurdle for new cryptocurrency exchanges. This is because liquidity is a prerequisite for attracting volume – an unfortunate catch–22. However, liquidity is unlikely to be a problem for Blocknet as Bitfinex, one the world’s largest exchanges by volume, is planning to integrate the Blocknet protocol into their hybrid decentralized exchange platform called Ethfinex. This partnership will give the Blocknet access to Bitfinex’s order book and liquidity. Any order placed on Bitfinex will be fully executable on the Blocknet. On top of that, the Blocknet will also pool liquidity from every application built on top of the Blocknet protocol (similar to 0x), including the Blocknet’s own Decentralized Exchange. This will make the Blocknet one of, if not, the most liquid exchange in the world. Proof: https://blog.ethfinex.com/the-ethfinex-roadmap-7c7cd82c835c
The Blocknet is completely trustless.** The term ‘atomic’ in atomic swap refers to the fact that the transaction is indivisible. This means that there is no risk of it only partially completing and causing users to lose their coins. Since atomic swaps are peer-to-peer, there is no need for any central intermediary to hold your coins. When using the Blocknet’s Decentralized Exchange users will be able to maintain complete control over their coins at all times. The Blocknet is completely decentralized. There is no risk that you will be unable to trade your coins on the Blocknet. Anyone can build their own decentralized exchange or application on top of the Blocknet. If one of the gateways to the Blocknet protocol is down, users can simply use one of the other gateways. Every aspect of the exchange process, including order matching, is completely decentralized and trustless.
The Blocknet was designed to maximise interoperability, and so most blockchain tokens may be integrated with no coding required. The current integration requirements for integration are:
Support for OP_CHECKLOCKTIMEVERIFY
A stock JSON RPC interface from Bitcoin Core
As a result, the Blocknet supports the majority of cryptocurrencies in existence, and no permission from anyone is required for these to be traded on the exchange. There are 38 coins that are currently finalized, 21 unannounced, 17 announced. The unannounced coins will be revealed through a greater marketing initiative. There are also 79 coins are in progress for error resolution + finalization and 23 coins are being reviewed for possible custom integration. The 17 announced coins are:
It is unlikely that you have heard of the Blocknet because they have been focused on tech and have not been actively marketing. But this is changing very soon. The Blocknet is committing to investing a significant portion of the Blocknet marketing fund into advertising initiatives and promotional content in 2018:
They have recently hired a Marketing Director
World renouned marketing firm VSA Partners (who designed the beautiful UI) is submitting a proposal to the Blocknet team this week for branding and associated design work.
An Official Marketing Plan will be released on February 1st.
They have acquired a Chinese liaison who will provide an integral role in setting the framework for marketing strategy and outreach in China (and Asia in general)
The wait is almost over guys and girls, the Blocknet is coming!
12/20/13 K: Hey man, it's K. Is your name D? Anyway...getting money onto BTC-e can be tricky if you are trying to deposit USD. I kind of just had to learn by trial an error because I didn't know anyone that could teach me, because i am the only one that invests in crypto currency that I know. Anyway, coinbase is probably the best bitcoin wallet service in the United States. It is definitely the largest and most reputable. Use this referral link: Once you sign up using this link, it will give us both some free money after you have purchased some bitcoins. The process takes a little while to get all started up, but it is worth it because it is so easy to use after. You can instantly buy bitcoins, and then use those bitcoins to send to BTC-E to purchase whatever other coins you want. I invest pretty heavily in LTC. The only way I have been able to do that is by buying bitcoins on coinbase, and then sending them to btc-e. Let me know if this works for you.. K: Let me know if the email reached you D: Yep. I got it. Two to three days for the deposit verification into my bank account. Thanks for the advice. I take it you work in finance? K: Yeah I do :). Coinbase takes a bit for the verification process but it is super easy to use after that. When you sell bitcoins, they just deposit the money right back into your bank account. It's the easiest service that I have found that is reputable. D: Have you ever tried trading for small margins? I made about 0.60 USD since I started last night. I got my initial funding by mining FTC. I'm trading BTC. D: Actually up to 10.81 after my last trade. Got in at 625 and sold at 639. K: I mainly buy and hold for long term. I bought some NMC to flip, but it dropped in value steeply so im still holding it. I buy more every time it dips. Sent via wireless, please excuse any typos... D: Cool. No worry about typos. I type all day at work so don't mind as well. I give up on accuracy at 5. My friends also aren't very much into crytpo currencies. I like the technical aspect but I'm more interested in trading on BTC-E. I must have watched about 12 hours of bitcoinwisdom since yesterday. It was my first time analyzing real time data. I can't believe how much info you can obtain just from identifying patterns. I have a quick question about a 401k if you don't mind. So far my year to date is 26%, is that good? K: Yes, very good. You must have had it set up aggressively with the investing choices (which is better to do when you are young). Good stock market returns are around 12% so you are more than double, but don't be surprised if there is a correction to lower on the returns there too. D: Yes. I'm over 50% in small cap and am young. Is there anyway to avoid that correction by reallocating? K: Nah, just leave it. At least you have a 401k, most people are paycheck to paycheck D: Defiantly. I can't imagine how some of my co-workers get by paying overdraft fees each month. Have a good night. I'll let you know when I buy some coins on that site. K: Cool, let me know. Let's make some money! :) 12/22/13 D: Howdy K, I'm still waiting on the deposits in my bank account by Coinbase. Thanks for the referral link, I'm looking forward to that free $5 of BTC. Up to $12.30 USD on BTCE, looking to break $13 tonight. Can't wait to get some more trading funds. K: It takes a bit for the initial deposit. I think it took my bank almost a week :(. Once you are done though everything is quick. If you add a credit card too, you can buy up to 10 btc instantly per week D: Awesome. Have any suggestions? (pic) attaches picture of small gains trade history K: What do you mean by sugggestions? Like on your trading? K: Can you deposit more money? It looks like you aren't fully able to enjoy the full gains of your trades because the amounts that you are trading are a little small. If possible I would suggest buying 1 btc when the price is the lowest of the day, and then trade from there.. K: Also i would stay away from ftc for time being 12/24/13 K: Hey bud, i just got some free money from coinbase :) did you get it too? Pretty cool huh? D: Yes sir. 4 days for my order to fill, can't wait. 12/25/13 D: Merry Christmas! K: Merry xmas! If you add a credit card you can instant buy up to 10btc. What other coins are you buying right now? I mainly just have BTC and LTC D: Does the credit card have to be a Visa? I'm mining about 8 FTC per day and trading for BTC at market. Then I trade BTC/USD for 0.10 - 0.40 profits. Working on a spreadsheet right now which you can see if you are interested. D: spreadsheet sends corny orange and grey spreadsheet K: Think it can be mastercard or amex too... K: Nice LTC rally today :). I just picked up more LTC yesterday too D: I tried adding a mastercard and discover but it wouldn't work. I've been watching the rally. Waiting to buy in to BTC at $656. K: Shit that sucks, email support and ask if they accept mastercard? I find that odd that they would only accept visa D: No worries. Deposit should clear 12/31 12/29/2013 K: Hows it going? Did you get your btc? D: Hey K. Not yet, they will be deposited 12/31. Bought at $651 K: Nice so you are already up :) K: How much did you buy? You should buy some and hold long term if possible too 1/2/2014 D: Happy New Year, K. I only bought 0.2 BTC for about $131. I'm at a total balance of $179.07. Started mining FTC again for the few extra dollars per day. I think I read somewhere that there is a cap of 21 million BTC that will ever be in existence. 21 million on the internet is subtle considering how many views cat videos get on youtube. 21 million out 7 billion people is even smaller. Sometimes I find it hard to imagine millions and billions but I always think about this one thing: 1 million seconds is about 11 days, 1 billion seconds around 31 years. I'm very optimistic about the long term. Probably going to set aside at least 1 BTC in the near future. Have you ever seen BTC listed on ebay? I created an auction yesterday for 0.1 BTC, $120.00. It sold within 3 hours but the buyer flaked out after I told them they would be receiving the BTC-E redeemable code in the mail. They created a dispute stating that the ebay/pal accounts were accessed by an unauthorized third party which is currently in process. I didn't lose anything and actually sold back the 0.1 at $775 after buying at $740 last night. I'm considering re-listing some BTC on Ebay but don't want to deal with reversed payments. Have any insight? K: I heard ebay can be a nightmare with sellers getting scammed by buyers with chargebacks. If you are going to do it, I would recommend selling maybe paper wallets only, that you actually have to mail to them. That way you can have a tracking number for your shipping. If you want to sell through paypal, be careful, I think any mention of crypto currency can get your account frozen. Not positive about that though. Try selling to people on the forums, I think that would be easy. Honestly, I think just buying what you can and holding long is the best option to make the best returns. Look how the market has gone today D K: 21 million BTC is not even enough btc for each person in my state to have 1, let alone the United States, or the entire world. As long as the demand stays high, the price could become astronomical if some major players like wall street enter the game. Just think, if Wall Street threw like 100 mill at Bitcoins (which is not that far-fetched), the price would probably jump to like 3-4k per BTC after that 1 day alone… D: I don't think I'm going to sell anything else on Ebay until I come up with a better way of protecting against charge backs. The market has been awesome today. D: That's very true. I think my next purchase will be 0.5 BTC to keep in my wallet. K: Have you seen the stuff on zerocoin? Looks interesting, should be out this year...there has been a lotta hype around it.. D: Haven't heard anything about it until just reading an article now. Looks interesting and they make a good argument about anonymity. I only read over it briefly, but it appears what they're proposing would add an additional transaction fee the the process. Cool concept. Are you good with candlestick charts and patterns? K: Somewhat. I learned them in college but stopped using them until now, so I am pretty rusty…I get the concepts and all, but I am not a professional at them by any means. I saw my buddies wallet the other day…he is pretty stacked. Over 250btc and over 1000 LTC! D: That is pretty stacked. About 500k stacked, right? Are you familiar with the creator(s) of bitcoin "Satoshi Nakamoto"? Is it actually one person? There are quite a few claims as to who or whom Satoshi may be. K: Im not familiar, i heard it was a team of people under that one name D: I wonder if it was created by a goverment. Like some NSA type agency. Kinda like how the darknet started off as a Navy project. K: Nah I doubt it. Government wouldn't create something that could possibly pose a threat to its own currency. D: That's a good point. The future of BTC is exciting. 1/6/2014 D: Started trading NMC recently. Check ou the spreadsheet attaches another shitsheet Still just testing the water before I start making bigger trades. Buy any more BTC/LTC lately? K: Cool man.. Year i got some LTC at $16 right before it went back up :) 1/7/2014 D: Nice buy. Catch the market today? China's equivalent of Ebay banned the sell of btc, ltc, mining gear, etc. My understanding on of China: China’s central bank regulated the virtual currency for the first time on Dec. 5 by banning financial institutions and payment providers from conducting transactions in the virtual currency Chinese central bank officials told third-party payment service providers to stop offering clearing services to online Bitcoin exchanges China's Ebay bans sell of BTC in accordance to the central bank's ban effective Jan. 31. Acting as a clearing house of BTC. I'm now $180 long NMC. I might invest 1k soon on BTC, any thoughts on an upcoming entry point? K: Hmmm not quite sure on entry point. I am in the red as of today on NMC. Im trying to get it back to 0.01 btc to convert my nmc back to btc, i missed it on the last push. If you are investing 1k and holding long, then any of the daily ups and downs dont matter because in the long run we hope it will be way up. If i were you, i would just wait for a big red candle and then try to by at the bottom. Maybe $800/btc is good? K: The part that sucks is that it seems like BTC value works so hard to creep up and up slowly, and right when it seems like it is going to pick up some momentum, BAM! More bad news comes out and slams the market. This cycle seems to keep repeating over and over right now… 1/9/14 K: I got 2 more btc :) 1/27/14 D: Sorry, haven't check this email account for a few weeks. Been working a lot of OT. What price did you buy in at on 1/9? I just sold a majority of my coins for cash. I picked up 3 LTC at 19.50 though. What's gonna happen 2/1/14? Also, do you know how long it would take for a tax return check if you have your taxes in prior to the 31st? I finished those 2 weeks ago if it matters. The other day the dow finished pretty low. Do you have any thoughts about the US economy over the next 6-12 months? K: What’s up man…huge dump off of BTC right now on almost all exchanges (except gox which is bs anyway). I bought some more LTC at around $19 too. I am holding all for long haul, although it would have been profitable to sell this morning, and re-buy after this dump off. I have no idea what is going to happen on 2/1. Last time when senate met, everyone thought the party was over, and then there was a huge rally in prices instead. I am trying to figure out the right price to buy more btc right now… what do you think? D: Sorry. Copied and pasted instead of attaching the pic. I think we'll have to see if it breaks that support. What about the arrest of that guy at bitinstant? *attaches picture of BTC 4h chart with a random line pointing downward K: I don’t think that one arrest will tank the market like that. I am wondering if the confiscated silk road funds are being trickled through the exchanges by the feds. It seems weird the sell off right now. It almost seems systematic. Like there is a huge sell off that clears all the buy orders. Then it is calm for a few minutes, then repeat. Really strange… D: But I wonder how they brought charges on him? Could they hold anyone accountable who sold BTC to a person using it to buy drugs on silk road? If the Feds are selling that would explain it. They seized 144,000 and they're saying the owner of silkroad may have 600,000 stashed in a wallet. K: I think the number is more like 30,000 btc D: The spokesperson says the approximately 26,000 Bitcoins seized are just the ones that were held in Silk Road accounts. In other words, it’s Silk Road users’ Bitcoin. The FBI has not been able to get to Ulbricht’s personal Bitcoin yet. “That’s like another $80 million worth,” she said, explaining that it was held separately and is encrypted. If that is indeed what he’s holding, that’s close to 600,000 Bitcoin all together or about 5% of all Bitcoin currently in existence. (Update 10-25: The FBI says it’s seized 144,000 Bitcoins, or about $28 million, that it believes belong to Ross Ulbricht.) K: I don’t understand how they were able to confiscate them, when bitcoins are not yet considered money, so they shouldn’t fall under forfeiture rules… 1/17/18 - D: Wish you the best K and hope you held those coins longer than I did. TLDR: Meet a friend in December 2013 that gave me advice to buy and hold BTC long term. This is one of our email threads from around that time, edited to remove personally identifying information. I used all my bitcoin for pizza following the fall of Mt. Gox and the subsequent bubble burst.
Reason why miners like me won't leave GHASH.IO or won't stop purchasing cloud based mining power through CEX.IO
I've been Bitcoin mining for a little over a year now and I've tried various pools, some popular (BTCGUILD tripplemining) and others not so popular. With BTCGUILD their fees are extremely high and the only other crypto currency your earn is NMC. With Tripplemining they rarely find a block. With GHASH.IO they have 0% in fees, they of course always find blocks since they are the most powerful pool on the planet (literally), in addtion to BTC mining I also earn NMC, IXC, and DVC. I can also purchase GH/s via CEX.IO which can be added to my existing mining power on GHASH.IO. I can also sell any and all GH/s that I purchase on the CEX.IO exchange and of course if the price of GH/s goes on the CEX.IO exchange I make a profit. Let's not forget people were saying the same thing about BTCGUILD:
2.After being publicly available for trade for almost 6 months, around 65% of trading is still on Bitfinex, which has a reputation for being hacked 3 times and conducting the USDTether scam. https://coinmarketcap.com/currencies/iota/#markets Also the price is 28% higher on the Korean exchange Coinone, due to the limited circulating supply. This is likely to change soon.
"In fact, it can be shown that the strategy of one large double-spending transaction increases the attacker’s chances of being successful. In the “ideal” situation of this mathematical model, this attack always succeeds."
3.b The IOTA white paper is around 3 times longer than Bitcoin's, taking about 10 pages to describe attack scenarios, but doesn't really go into how to reliably stop them!
Like u/pyalot said "If your concept does not yet work 2 years in, it will never work." If anyone has anything else, let me know and I'll add it.
[2015-08-19] Challenge #228 [Intermediate] Use a Web Service to Find Bitcoin Prices
Modern web services are the core of the net. One website can leverage 1 or more other sites for rich data and mashups. Some notable examples include the Google maps API which has been layered with crime data, bus schedule apps, and more. Today's a bit of a departure from the typical challenge, there's no puzzle to solve but there is code to write. For this challenge, you'll be asked to implement a call to a simple RESTful web API for Bitcoin pricing. This API was chosen because it's freely available and doesn't require any signup or an API key. Furthermore, it's a simple GET request to get the data you need. Other APIs work in much the same way but often require API keys for use. The Bitcoin API we're using is documented here: http://bitcoincharts.com/about/markets-api/ Specifically we're interested in the /v1/trades.csv endpoint. Your native code API (e.g. the code you write and run locally) should take the following parameters:
The short name of the bitcoin market. Legitimate values are (choose one): bitfinex bitstamp btce itbit anxhk hitbtc kraken bitkonan bitbay rock cbx cotr vcx
The short name of the currency you wish to see the price for Bitcoin in. Legitimate values are (choose one): KRW NMC IDR RON ARS AUD BGN BRL BTC CAD CHF CLP CNY CZK DKK EUR GAU GBP HKD HUF ILS INR JPY LTC MXN NOK NZD PEN PLN RUB SAR SEK SGD SLL THB UAH USD XRP ZAR
The API call you make to the bitcoincharts.com site will yield a plain text response of the most recent trades, formatted as CSV with the following fields: UNIX timestamp, price in that currency, and amount of the trade. For example:
Your API should return the current value of Bitcoin according to that exchange in that currency. For example, your API might look like this (in F# notation to show types and args):
val getCurrentBitcoinPrice : exchange:string -> currency:string -> float
Which basically says take two string args to describe the exchange by name and the currency I want the price in and return the latest price as a floating point value. In the above example my code would return 349.25. Part of today's challenge is in understanding the API documentation, such as the format of the URL and what endpoint to contact.
Many thanks to adrian17 for finding this API for this challenge - it doesn't require any signup to use.
Community-Produced FAQ document What Is Blocknet? The Blocknet is a general-purpose infrastructure for inter-blockchain services. It is designed to enable the emerging “token ecosystem.” The first product build on this infrastructure is a decentralized exchange. What Does It Do? The Blocknet enables inter-blockchain services, like decentralized exchange, monetised API consumption, and p2p digital service delivery. These are core enabling features of inter-chain dapps. How Does It Work? To support inter-blockchain services, the Blocknet has three core components, which work together to provide three core services. The core components are:
A blockchain router, xbridgep2ptm
A coin exchange protocol
An inter-chain data transport
The core services are:
Decentralized exchange of coins
Inter-blockchain service delivery
What Is a Decentralized Exchange? A decentralized exchange is a service enabling counterparties (which may be people or machines) to exchange one currency or token for another, without the involvement of any third party as an intermediary. The term “decentralized” denotes matters of control rather than the distribution of processing; the ideal of a decentralized solution is for the parties to a given interaction to be self-sovereign actors, in the sense that no third party is required to act on their behalf in order for the interaction to take place. How Does a Decentralized Exchange Work? Exchanges have four core functions:
The exchange of tokens
Hence, in order to be a decentralized exchange, each of these core functions must be decentralized. The Blocknet decentralizes them in the following ways:
Traders’ capital remains in their wallets, and is not entrusted to a third party at any stage.
Orders are broadcast directly from trader to trader over an inter-blockchain DHT network overlay. Traders’ apps compile an order book themselves instead of relying on a central order book service.
Orders are matched directly between traders. When one accepts another’s order, their apps communicate to set up the coin exchange process, and this is broadcast over the inter-chain network.
The exchange of tokens is achieved without the involvement of an intermediary, in a manner that does not require counterparties to trust one another beforehand. An atomic protocol is utilised (meaning that either the exchange of both currencies takes place, or nothing takes place), which employs OP_CHECKLOCKTIMEVERIFY to nullify transaction malleability-based attacks. More details on the protocol are available here: http://kaykurokawa.blogspot.co.za/2015/10/atomic-cross-chain-transfer-overview.html
Why Is a Decentralized Exchange a Key Enabler Of the Token Ecosystem? Decentralized exchange makes blockchain services intrinsically monetizable, removing the friction and high costs of traditional payment networks that have prevented the monetisation of the bulk of the API ecosystem. Due to the decentralized exchange, consumers of a service may pay in their native token even if the service consumes a different token. In a world in which (a) there are already thousands of blockchains, and (b) blockchains bloat inexorably, and so it is advisable not to support many services per blockchain, monetising inter-chain services is both an operational necessity and an ecosystem-enabling service. What Coins Does the Decentralized Exchange Support? The Blocknet was designed to maximise interoperability, and so most blockchain tokens may be integrated with no coding required. The current integration requirements are:
Support for OP_CHECKLOCKTIMEVERIFY
A stock JSON RPC interface from Bitcoin Core
As a result, the Blocknet supports the majority of cryptocurrencies in existence, and no permission from anyone is required for these to be traded on the exchange. The current list is: BAY BTC BLK BLOCK DASH DGB DOGE DYN PIVX LTC MUE NMC SYS VTC VIA BRK BRX ETH NLG QTUM DCR POT PPC XVG MONA FAIR NAV How Fast Is the Decentralized Exchange? Instant. However, note that once you have completed a trade and received coins, you will be dependent on their blockchain’s accepted confirmation time before your coins will be spendable again. Note: A future enhancement to the decentralized exchange may include a filter on the order book to enable traders to trade coins with less than the number of confirmations conventionally agreed upon as “safe.” This incurs a degree of risk for the benefit of supporting trading styles that require rapidly entering and exiting a position, such as scalping. How Private Is the Decentralized Exchanged? Because decentralized exchanges do not require traders to submit KYC information or divulge anything else about themselves to a third party, traders enjoy a naturally high degree of privacy. However, for most wallets, aspects of transactions are linkable to IP addresses, so in order to obfuscate that, one might use TOR or I2P. The Blocknet’s DHT network overlay does not use IP addresses, however. Combined with any privacy-centric coin, a decentralized exchange run over IP-obfuscating tech is a near-perfect mixing solution. For example, one may trade some coins for Zcash, sends them to a different address, and then trade back again. What Are the Possible Applications Of the xBridge Protocol Other Than a Decentralized Exchange? The Blocknet is designed as infrastructure for the emerging token ecosystem. Any service or orchestrated sequence of microservices provided by dapps may be delivered over the Blocknet's infrastructure. Using decentralized exchange, these services are intrinsically monetizable, removing the friction and high costs of traditional payment networks - friction which has prevented the monetisation of the bulk of the API ecosystem. Due to the decentralized exchange, consumers of a service may pay in their native token even if the service consumes a different token. What Are the Benefits Of Running a Node? How Many Blocks Do I Need To Run One? There are two types of node: a "service node" and a “trader node”. Service nodes do not handle or control any trader's coins. Their function is to collect and distribute trade fees. Typically a service node operator will run multiple full node wallets of whichever coins (s)he wants to support, in order to garner as many trade fees as possible. Trader nodes enable one to trade on the decentralized exchange.The amount of BLOCK currently needed to run a service node is 5,000 BLOCK. To use the exchange you will not need any BLOCK. Will There Be Fees For Buying/Trading On the Blocknet Exchange? Yes, there are fees, though they are significantly lower that centralised exchanges. The fee structure is as follows:
Transactions over the networks of each of your currency pairs will remain subject to their normal network fees for P2SH transactions
A tiny trade fee is charged in BLOCK and the software takes care of securing some BLOCK to pay the fee.
Will A User Need BLOCK To Participate On An Exchange? No, to use the exchange you will NOT need any BLOCK. Only the service node operators will need BLOCK in order to collect and distribute trade fees. Additionally, the service nodes do not handle or control and trader’s coins. The sole purpose of the service node is to only collect and distribute trade fees. Staking Staking and fees on the Blocknet are bundled together in a 70/30 split between nodes and stakers. This is a combination of POS staking and network trading fees. Staking is estimated to be between 9% - 14% in the first year. Nodes will receive 70% and stakers will receive 30%. This means that if you do not have enough Block to run a node, you will STILL get part of the node fees, and if you run a node, you will also get part of the stakes as well. Your wallet must be unlocked to actively stake and receive rewards. There will be 525,600 new blocks created annually (at 1 block per minute) with decreasing inflation each subsequent year. Block Specs
Circulating Coin Supply: 4,201,633 BLOCK at start with 525,600 new blocks created annually
Will the 55% be 55% of the crypto you had, or an assortment of 7 crypto-currencies?!!!!
No one seems to have an answer to this and its IMO by far the most important question here. Yes of course, getting anything back is better than nothing. But if you had 10 bitcoin, you should receive 5.5 bitcoin back. If you had 100 litecoin, you should receieve 55 litecoin back. If you had 100 ETH you should receive 55 ETH back. But from the post and translation this is not at all clear. If we can get 55% of the crypto we had before this whole thing happened, I and i'm sure many others will be very satisfied. I can not for the life of me understand why if you had 10 bitcoin, instead of giving you 5.5 bitcoin you get the same value in nmc, nvc, ppc and all this other bs. It makes absolutely no sense. It would be one thing if they were saying everyone will get the value of 5.5 bitcoin in fiat, I mean I would be much less happy in this scenario bitcoin is going to continue on much higher, but it would at least make sense in my mind as a solution. I would be much happier with 5.5 bitcoin. But to give literally everyone on the exchange all of these shitcoins as part of their 55% is extremely strange, unfair, and makes zero sense. This would be horrible. What am I goign to have to download 7 different shitcoin wallets? I suppose I could immediately convert them all to bitcoin, yet that still would not make this solution in anyway fair or logical. No matter what was seized, every user should get x% (in this case 55%) of what THEY ALREADY HAD at the time of seizure. This is not a bankruptcy court, this is the solution BTC-E is proposing. Of course, there is only so much we can do, but i think its important that we should not be happy wiht this *if it is the case. They still have the power to change this. If they want people to use their exchange going forward and recoup part or all of the lost funds, they should still want to make people happy. There is absolutely no reason why they can not do this, even if they were to lower the % I would much prefer that over getting 7 shitcoins. Or even if they delayed withdrawal even longer I would still much prefer that. Would love all of your input on this, sorry if this was a bit of a vent, it was. But I think this is the most important aspect of their proposed solution. If I am wrong, and you are getting exactly 55% of the crypto you already had, then I apologize, eveyrone has a different answer on this. this post is only about the 55% please do not comment on BTE or any aspect of the 45% we may or may not receive down the line
With 2017 coming to an end, we wanted to provide the community with some updates regarding what is on the horizon for Blocknet in 2018, but first let’s take a look at what this community has accomplished so far. 2017 was a busy year for Blocknet! With the launch of the new production chain, the Service nodes launch on mainnet, the partnership with VSA to build the Blocknet UI (as well as the UI Reveal) and the implementation of the Community Governance System, it has been a very productive year. This is what was achieved… Blocknet in review 2017:
Service nodes launch on mainnet.
Implementation of the Community Governance System.
Thanks to the quick work of @ftriboix, integration of Ethereum and all ERC20 tokens is now roughly 50% complete!
The DX API, which is being worked on by the DX Tool Team and the Euro Team, is currently 75% complete with many improvements.
The DX UI, which is being developed by VSA Partners is 75% compete.
The DX UI integration, which requires the DX API to be complete, is now expected to be completed in January. This is a slight delay from what was hoped, but we believe it is better to delay a release than to make compromises.
Integration and successful trades of 10 additional verified supported coins. These will be announced soon!
Blocknet Wiki is being worked on by Baron and Philip Marshall which is approximately 50% complete.
A Blocknet DX visual explorer is being worked on by @infinity7592 and is now 25% complete.
API documentation auto-generation is 50% complete and will soon be accessible through a web page.
Coinmarketcap updated to source link to the new Github repo and added a link to Rocket Chat and Telegram. Telegram has seen a 10% growth in members in the past week!
Community representatives have been selected by the community. They are @stormingj and @thebaron.
Multisig accounts still need to be tested. Until reliable functionality can be certain, the community funds will be held in regular accounts. The spending of these funds will still go through a 4-of-7 approval process consisting of Dan(atcsecure), Arlyn(synechist), Michael(michael), Jeff(86b), Hanni(hanniabu), Justice(@stormingj), and Baron(@thebaron).
The community-driven marketing group is taking form with the addition of #marketing-investors, #marketing-users, #marketing-developers, #designers, #video, #events, #pr, #documentation, #support, #support-users, and #support-developers. This separation of groups will help the community better organize initiatives as well as allow for an influx of new members.
What is on the Horizon for Blocknet in 2018? Moving forward into 2018 there are many exciting developments to look forward to:
The beta “soft launch” of the Blocknet DX UI is to be expected in January.
Blocknet DX launch with SPV multi-wallets.
A facelift of the current website in preparation for 2 brand new websites (Blocknet protocol and Blocknet DX sites).
Rocket Chat improvements.
A Blocknet presence at cryptocurrency events, forums and meetings (currently in the planning stages.)
Integration with Ledger Hard wallet.
Blocknet DX TradingView integration.
Arbitrage trading bot library.
DX API enhancements.
DX order book enhancements.
Visual DX explorer: @infinity7592 (Early demo has been shared).
Analytics site (think bfxdata.com, but for the Blocknet DX).
0x integration (addition of Ethereum and all ERC20 tokens to Blocknet DX).
Ethfinex integration (Bitfinex’s order book on Blocknet DX).
Blocknet DX mobile app.
Blocknet DX website.
API documentation web page.
“Offline orders” feature (orders stay live after wallet is closed).
Decentralized leveraged trading (p2p loan swaps locked to longs/shorts).
Decentralized ICO dApp.
Modularisation of core components (network overlay, blockchain router and data transport).
Abstraction of core services into dedicated APIs (service lookup, inter-chain messaging, and decentralized exchange).
An additional 70 coins for the DX are being worked on and are at various stages of integration.
Note 1: Upcoming milestones are subject to change, and some require new ground be broken in crypto, and thus are to be interpreted as intents, not commitments. Development is in an agile manner and so is not to deadlines; Rather, continual progress is to be expected. Note 2: All names are Rocketchat community handles. A very merry Christmas and a happy and prosperous new year to the community! 2018 will be fantastic!
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