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Is Cryptocurrency Really The Future?

Is Cryptocurrency Really The Future?
Over the past decade, cryptocurrency has become a breaker of old approaches in monetary policy, finance, economics, and e-commerce. The speed at which the crypto industry is growing today is very impressive. The global cryptocurrency market volume is predicted to reach $1,758 million by 2027 with a compound annual growth rate of 11.2%.
by StealthEX
More and more people are getting faced with the digital currency so the questions on the future of cryptocurrencies are becoming especially relevant today. So what is the future of cryptocurrency? In this article, we’ll try to figure this out.
Predicting the crypto world’s future is impossible without knowing the current situation on the cryptocurrencies market.

What trends can we observe today?

• Nowadays the crypto market is in its formation stage. We can see an increase in the number of areas where blockchain technology is getting involved. The COVID19 and panic that it caused in the markets are also accelerating cryptocurrency adoption.
• Any cryptocurrencies rate is rigidly tied to the situation in the crypto market.
• Bitcoin and Ethereum are the biggest influencers in the cryptocurrency market.
• Investors are paying attention to the crypto projects that are aimed to create platforms for launching decentralized applications (dApps).
• Significant growth of decentralized finance (DeFi).
• Decentralized Internet (Web 3.0) is actively increasing and creating the basis for the Internet of Things development.
The growth of digital currencies around the world allows making some predictions about the future of crypto market. Let’s look ahead to the future and try to forecast the prospective trends in the crypto world development.

Bitcoin’s reign will not end

The first thing that worries many crypto holders is “What will happen to Bitcoin”?
The ups and downs of Bitcoin’s rate, rumors about the next hard fork, legalization in some countries, and prohibition in others — all these kinds of news makes people guess what will come up with the most popular coin. Experts have different opinions from a complete drop in price to the status of the only currency in the world.
Most experts are leaning towards that Bitcoin will maintain its current positions and even strengthen them. For example, John McAfee, businessman and computer programmer, says:
“You can’t stop things like Bitcoin. It’s like trying to stop gunpowder.”
He also made a bet that if Bitcoin will not cost $500,000 by the end of December 2020 he will eat his own…well, you know.
James Altucher, American hedge-fund manager, author, podcaster and entrepreneur, is not sure that BTC price will reach 1 000 000 USD:
“Will it be a million dollars in 2020? Maybe. Will it be 2021? 2022? Who knows.”
He also predicted that:
“At least one country’s currency is likely to fail soon — likely Argentina or Venezuela. This will lead to mass adoption of Bitcoin among that populace. That will in turn lead to Bitcoin rising by more than $50,000 when it happens.”
And just a few days after this forecast, the Venezuelan President announced that they are planning to release national crypto called El Petro. Right now a lot of countries like China, Tunisia, Senegal, Sweden, Singapore, Uruguay, Thailand, Turkey, and Iran are also working on the creation of national cryptocurrency.
So what will happen to Bitcoin? No one knows. The only thing in which many experts agree is that Bitcoin will stay as a “gold standard” in the crypto world for a long time.

Cryptocurrencies will be mainstream

“Cryptocurrencies is a fashionable investment and a sign of belonging to the special community” — this idea is actively promoted by various sports organizations, popular performers, public figures that release their own altcoins.
According to CoinMarketCap, there are already more than six thousand cryptocurrencies, and their total capitalization is $353 billion. A couple of years ago, the digital currency was almost unknown to anyone except geek developers and crypto enthusiasts. However, things are changing: prospects for businesses, rising prices, and strong community support will step by step make cryptocurrencies mainstream around the world.

Market volatility will not disappear

Cryptocurrencies are unstable by their nature, and their volatility is one of the reasons why someone becomes a millionaire and the others lose fortunes.
The strong volatility of crypto is caused by the fact that they are still at an early stage of development. Cryptocurrencies have huge growth potential if they can enter the mass market.
But every news about cryptocurrencies either hints at the possibility of markets going down or rising up. The volatility in the cryptocurrency markets will continue to be felt as the news affects the market, and it is only at the stage of rapid development.

The future of trading — decentralized exchanges

In the near future, we will see a prime of decentralized exchanges. Many believe that DEXes is not yet ready for mass adoption. But there are factors for a favorable development of events.
First of all, centralized exchanges don’t fit the purpose of cryptocurrencies cause the key advantage of digital coins is decentralization. In decentralized exchanges, transactions can be made directly between users (peer-to-peer) without the need for a trusted intermediary, which means there are no transaction fees for users.
On top of this, decentralized exchanges are much more secure against hackers as there no single point of failure like in centralized exchanges. Everyone knows the cases with Mt.Gox, Bitfinex, Coincheck when people lost millions and millions. The need for more security will lead users to decentralized exchanges.

The rise of crypto loans

“Cryptocurrency is convenient to take on credit” — not long ago this idea seemed like a wild ride since the digital currency has high volatility. But today the popularity of lending in digital currencies is increasing and here are the main reasons:
• Low-interest rates.
• Increase in the number of traders and investors for whom receiving funds immediately in cryptocurrencies is convenient.
• A simplified system of requirements for borrowers, those who hadn’t been approved for bank loans could easily receive digital money.
Nowadays, the entire crypto loaning industry is estimated at $4.7 billion and the number of crypto loan platforms will continue growing.

Regulators gonna regulate

In the early days of cryptocurrencies history, traditional financial institutions sharply criticized crypto enthusiasts. The crypto market, however, has proven that it is sturdy against these kinds of attacks. Nowadays traditional institutions’ opinion regarding cryptocurrency is changing. In the future, stakeholders can have an increase in the flow of funds from Wall Street to cryptocurrencies.
There is no doubt that this will require more transparency and regulation in the crypto market. Today government and regulatory agencies around the world, including the U.S. Securities and Exchange Commission, Federal Bureau of Investigation, United States Department of Homeland Security, and the Financial Crimes Enforcement Network (and this is only within the US borders) are giving more and more attention to cryptocurrencies. The regulation of the crypto in different states is realizing in diverse ways: in some countries, it is legally recognized as a means of payment, in others its use is prohibited.
The G20 summit participants, following the discussions on cryptocurrencies, came to the conclusion that a complete prohibition of crypto will not solve anything as nowadays the digital currency plays a significant role in the economy. And if the digital currency cannot be prohibited, it must be regulated:
“Technological innovations can deliver significant benefits to the financial system and the broader economy. While crypto-assets do not pose a threat to global financial stability at this point, we are closely monitoring developments and remain vigilant to existing and emerging risks.”
As we can see the world is changing very quickly. The speed with which cryptocurrencies are integrating into the global financial system is a clear indicator that traditional financial institutions can no longer have a monopoly on the management of financial flows.
The year 2020 is the start of a new decade for the cryptocurrency industry. The next ten years will bring us key changes in traditional finance when blockchain and cryptocurrencies will become a daily thing in most countries of the world.
What are your thoughts on the future of cryptocurrencies? Tell us your ideas in the comments below.
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example BTC to ETH.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected].
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/09/15/is-cryptocurrency-really-the-future/
submitted by Stealthex_io to StealthEX [link] [comments]

My Story of BTC

This is my story of how I derped around during the last BTC bubble, made some dough, and saw my friend pile up a mountain of debt on himself, only to become a millionaire. I hope if you read it there is a moral somewhere, but I'm not so sure there is. (prices are approximate to dates, going back in my memory a bit)
OCT 2011: (BTC $4) (preface)
As an undergrad computer science major I mined a few coins in a cyber security class . It took about 2 months and I think it was around .89 BTC or something like that (Edit: OK so I probably didn't mine this much, but I had access to the computers in the graphics lab and during this time, and they were mining 24/7. We let them run for a while after the class before taking our share out). I think it was worth about $8 at the time. I thought this was really cool, but also remember at that time you couldn't do anything with it, especially where I lived. I just kind of forgot about it, got a new laptop sometime later, and eventually chucked that one with the coins on the hard drive... (it was just $8 and I had no way of spending it remember) oh well so much for those. Who knows how many coins were lost by these standards back in those days. I take in all the maths, graduate with marks, drink all the beer, laugh with friends, fun times.
May 2015: (BTC $234)
Fast forward.. I end up in Los Angeles, CA through another long set of tales. I live with aspiring actors and film makers grinding it out as waiters and bartenders. They are good mates and take me to parties on occasion where we meet all kinds of characters. I end up chatting with a guy (lets call him Bill) who's nuts about BTC. I explain to him that I know all about it, and he is ecstatic to find someone who understands what he is talking about. I haven't been paying much attention the past years, and he shows me how far its come in tech and price. I smack my forehead, knowing I tossed away 8/10ths of a coin (could have been beer money man). We become friends and talk about Bitcoin pretty regularly.
I don't buy initially, but Bill is giving it all he's got, buying left and right with anything extra dollar he can scrape up. He believes in it. I get so worried that Bill is going to loose what he put in that I just buy a bit (.1BTC) so I will be invested enough to watch it, to know if Bill is up or down. You can guess what happens at this point. Up we go. Bill makes money, I make money.
June 2016: (BTC $661)
All is well. I am happy that Bill didn't lose his money and hoping he will take and re-invest his earnings in a more diversified portfolio. I'm worried about the ~$100 I made in earnings, like do I file this? (lol younger me)
I meet with Bill for the first time in a while. I'm excited to share our gains. We both show our gains and cheers. He immediately tells me that he is looking at ways of taking out credit to buy more BTC.... WTF? I say. He quickly proceeds to tell me the banks turned him down, but he found out he can just buy BTC with credit cards... so he is filing 7 applications right now to see how many he can open to buy BTC... I think for a second. I do the rational thing. I try to talk him down, but no way. He's doing it. I don't know much about investment at this point, just math and percentages, but thats enough to make me beg him to not do it.... he doesn't listen.
By my estimates Bill purchased a total of $30K worth of BTC with combined cash and credit on hand at (my best guess) an average price of $589 per BTC. I invest what I have to spare from savings to just keep up with the train wreck I am worried about happening to Bill. I think I have .2 BTC at this point just to keep up with his insane position
August 2016: (BTC $576)
The first dip comes, and Bill is facing credit card bills with interest rates that will kick in soon (he will not be able to make the minimum payments). We discuss is troubles at this point frequently. I suggest he should liquidate and close the cards. He disagrees, and liquidates only a position large enough to pay the minimums and give him a bit of cash. Not only that but he use the cash to secure short term loans at higher interest in order to re-invest to make up the losses. I once again beg him to re-consider, but no... this is his path. I once again invest more to keep up with it, so I can keep up with Bill and his well being. I purchase a good bit more and have .5 BTC
November 2016: (BTC$758)
I move to another city and mostly forget about my interactions with Bill. He messages me a few times about the price going back up and being bullish about it once again. I do the same song and dance of trying to warn him to close his cards and positions to get out while he can. Nope he's holding strong. Nothing to be done. I assume I can't do anything to help this situation. Once the price busts above $900/BTC even I can't say anything. I've made money, he's made bank. I feel happy for him, but once again concerned. I know he is running on margin and don't want him to get sucked in, but I also don't want to weigh in on such a big investment at this point. He texts me about the gains, I mostly just give the thumbs up back, knowing I can't back down at this point, but I don't want to be around him if it fails.
Jun 2017: (BTC $3000)
I have mostly lost touch with Bill because I live in another city. I never sold my BTC though, and I never forgot about him. Around Feb. 2017 I visited LA and saw Bill. I thanked him for making me the money that I held now in BTC. I asked him what he was doing with his stake. As always he was ready for the apocalypse to happen and for his BTC to be the only currency left somehow. He was holding stone cold. I wasn't persuading at this point, hell, I was holding myself.
Dec 2017: (BTC $16000)
While I thought I would never be swept up in the chaos that is BTC... I was. The amount of BTC I hadn't sold (.3BTC) was making even me feel like a genius. I had made so much money off just forgetting about something over months at a time. I often thought about Bill, but I didn't envy, in fact I really hoped he had paid off his credit card debts and was sitting on his fat profit. I watched BTC Youtube channels and debated if we would go to $100K or if this was it. I couldn't take the pressure and sold half my position @ around $16K/BTC
2018-2019 (BTC $20K -> $3.5K) (Epiloge)
In early 2018 price went up to $20k before quickly falling back to 10K. Thankfully I sold the rest of my position on the way down at about the same point as on the way up ($16k). I bought a few back in 2019 but have never really put as much capital back in as I made. As for Bill, well I told you at the beginning. Bill is a millionaire. My best estimates based on my text with him is he cashed out @ around an average of $17k/BTC. Even after taxes, he ended up real nice. I don't know if he was in the run up in 2019 but I must assume he was.
Looking at the market today, I'm not sure this story will repeat itself... maybe it will.
submitted by OkOkay to Bitcoin [link] [comments]

Bitcoin Circuit Review 2020

Bitcoin Circuit Review 2020
In this Bitcoin Circuit inspection, we tend to are going to test and check every feature of this software to be in a position to ascertain as it guarantees to whether it delivers. From the minute you enter the Bitcoin Circuit site, it will become clear that you'll become a millionaire by investing Bitcoin. The video on the site makes it evident that the likes of Bill Gates, Eric Schmidt and Richard Branson grasp the worth of Bitcoin to high it off.

https://preview.redd.it/tmx1us9i3cf51.jpg?width=730&format=pjpg&auto=webp&s=461951a8e53a275a095caf5f66b9ec7c6160968c
Should you're taking a shut examine the testimonials on the Bitcoin Circuit web site, it’s also clear that this program resolution has made many individuals terribly wealthy in a temporary period of your time and with very very little effort on the shoppers’ half. We looked on-line on Bitcoin Circuit and decided to expand our hunt conjointly it’s evident from the reviews and alternative testimonials that Bitcoin Circuit will work and will empower traders to trade other along with Bitcoin cryptocurrencies profitably.
Currently, for the true test. We have a tendency to chose to check the automated trading software’s effectiveness and precision and to hitch using Bitcoin Circuit.Consequently , the Bitcoin Circuit could be a automated trading software. This means that is that the appliance was developed with an algorithm which analyze the market conditions and also can scan the markets and compare these to historical data and it can then find potentially lucrative trading opportunities within the markets.
When the market states match the parameters which the trader has set, to top it off, because the program is automatic, it will open a trade. In other words, once you've got signed up to combine Bitcoin Circuit, you’ll have to tell the software the method you want it to trade.

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You will simply want to put during a few minutes of effort per day to ascertain your trading parameters. You are in a position to discern the software that resources you want it to exchange, just how a lot of you wish to take a position per trade, the danger quantity , the plan you would prefer it to use and additional.
Once the Bitcoin Circuit is about to manner, it can start analyzing the markets, wanting for trading opportunities which match the trading parameters.
The massive advantage of the Bitcoin Circuit applications is that's could be utilized by each new and skilled traders.
That is using software that is automated is an excellent way to get some insight regarding how market evaluation is completed and additionally to learn about the markets. Even the Bitcoin Circuit is additionally an glorious tool to find out concerning the various trading ways on the market within the market.
This means that even in case you've got not traded before and if you are doing not have an understanding of the markets, then you may use theBitcoin Circuit applications and trade. For a refined trader, the Bitcoin Circuit software is a superb method to check the market analysis.
They’ve done The moment a trading signal can be sent, the trader can check whether it matches the analysis.
Another profit of this Bitcoin Circuit applications is the precision and rate at.
A core element of trading is having the ability to comprehend which factors have an effect on market movements and in that direction strength prices will move if you recognize anything concerning net trading. Learning properly can take a terribly long time and can be time-consuming.
As a result of Bitcoin Circuit will the research operate for you, you do not have to sit in front of your laptop while it does its work. In reality, you'll be able to even be asleep and Bitcoin Circuit will trade for you.
Another huge profit of this Bitcoin Circuit software is the rate that it moves into a transaction. A trade can start instantly, once a trading opportunity has been found that matches the trading parameters.

It can not hesitate or be impacted by some emotions. Additionally, the Bitcoin Circuit software scans the markets 24 hours daily, seven days every week.
In this manner, trading possibilities will invariably be seen and traders get flexibility and also the convenience of trading.

From the comfort of the homepage of the Bitcoin Circuit site, you'll complete the registration form that’s situated on the aspect of the page. You may would like to produce your name along with your email address additionally to form a password on your account. Bitcoin Circuit takes the security and safety of their clients’ money and private information thus it will give relief to you your account is password protected. You will would like to produce a contact phone number. As soon as you’ve submitted this info, your Bitcoin Circuit account can be activated and you'll be redirected into this trading dashboard.

Nw that you've got a Bitcoin Circuit consideration, the subsequent step is to provide a deposit so that you've got trading funds readily offered for your trading activities. The demand is solely $250 and it's essential to notice at now that this currency is a hundredp.c yours. In alternative words, it's possible to withdraw any profits you’ve created at any moment, hassle-free and these resources. As we have said, Bitcoin Circuit has partnered. All the favorite brokers offers a alternative of banking selections that are secure so that you're able to deposit and withdraw cash effortlessly and safely. Once your funds are deposited and additionally reflecting in your accounts, you can begin trading and earning profits out of the Bitcoin and markets.

Among the many blessings of this Bitcoin Circuit program is that you do not want to just jump into trading once you’ve signed up. So you get some insight into how the program works before you spend any of your cash you have the choice to bear their demo walkthrough. This could be a wonderful approach to familiarize yourself with how the Bitcoin Circuit applications works till you step to the trading atmosphere that is live.
your Bitcoin Circuit account financed and is started; you'll begin trading. It’s doable to place like which resources you wish to exchange the trading parameters of the applications, and once you set the software to automatic manner, then the Bitcoin Circuit will automatically begin trading to you. At any moment you would like, you might set the Bitcoin Circuit software to guide mode, supplying you with complete control of your own trading activities. You'll then switch to automated mode at any moment and the pc software can analyze the markets that you find trading opportunities that are lucrative

The Bitcoin Circuit program is ready to investigate the markets. In reality, there is no different trading app on the earth that performs within the 99.fourp.c level of accuracy that the Bitcoin Circuit is ready to reach. As a consequence of this accuracy, users will easily be in a position to double, triple and quadruple their investment funds. Being in a very position to understand when the markets will move and where direction is the heart of successful trading. Considering that the Bitcoin Circuit is ready to quickly and accurately assess the markets, the trading chances are quickly seen and listened on. To top it off, the Bitcoin Circuit software was created utilizing the foremost innovative programming and this software’s analysis is ahead of those markets by 0.01 seconds. This’time jump’ means that that the Bitcoin Circuit software understands when the markets can move and in which direction it will proceed before it makes its move. Understanding one thing can occur even before it happens, puts the trader into a very sturdy position and it gets the Bitcoin Circuit applications the consistent trading app on the world.

https://preview.redd.it/dfvx3knk3cf51.jpg?width=770&format=pjpg&auto=webp&s=2b48990f6ba0eafebc710c41a0c01239cc50fc6d
A feature of the Bitcoin Circuit program is the fact that it is automated. This means that that when it disturbs a trading opportunity, the trade will be executed by it mechanically with no intervention, within the trading account of the trader. To allow the applications you'll need to ascertain trading parameters. That is, it is attainable to line which resources you would prefer it to trade, simply how abundant to take a position and abundant additional. Your Bitcoin Circuit software can create lucrative trades for you within the trade whenever they arise. It does not get any easier than this. Another benefit of trading is that enables traders to exchange Bitcoin and other cryptocurrencies even while not any experience.

Automated trading offers another major profit in the Bitcoin Circuit software. It eliminates any emotions from the trading procedure. As a dealer, it's quite easy to get held on your own emotions. In alternative words, you may be overwhelmed by concern that you'll get rid of money, that means that you would possibly leave a trade early or perhaps you become selfish and you would possibly begin causing you to form some losses. With the Bitcoin Circuit applications, this could’t occur. The software will enter and exit trades primarily based on statistics and pure evaluation. No emotions are ever involved and because of this, the trading is correct, resulting in gains and success.

https://www.cryptoerapro.com/bitcoin-circuit/
submitted by cryptoerapro to u/cryptoerapro [link] [comments]

Crypto-Powered: Understanding Bitcoin, Ethereum, and DeFi

Crypto-Powered: Understanding Bitcoin, Ethereum, and DeFi
Until one understands the basics of this tech, they won’t be able to grasp or appreciate the impact it has on our digital bank, Genesis Block.
https://reddit.com/link/ho4bif/video/n0euarkifu951/player
This is the second post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
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Our previous post set the stage for this series. We discussed the state of consumer finance and how the success of today’s high-flying fintech unicorns will be short-lived as long as they’re building on legacy finance — a weak foundation that is ripe for massive disruption.
Instead, the future of consumer finance belongs to those who are deeply familiar with blockchain tech & decentralized protocols, build on it as the foundation, and know how to take it to the world. Like Genesis Block.
Today we begin our journey down the crypto rabbit hole. This post will be an important introduction for those still learning about Bitcoin, Ethereum, or DeFi (Decentralized Finance). This post (and the next few) will go into greater detail about how this technology gives Genesis Block an edge, a superpower, and an unfair advantage. Let’s dive in…
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Bitcoin: The First Cryptocurrency

There are plenty of online resources to learn about Bitcoin (Coinbase, Binance, Gemini, Naval, Alex Gladstein, Marc Andreessen, Chris Dixon). I don’t wanna spend a lot of time on that here, but let’s do a quick overview for those still getting ramped up.
Cryptocurrency is the most popular use-case of blockchain technology today. And Bitcoin was the first cryptocurrency to be invented.
Bitcoin is the most decentralized of all crypto assets today — no government, company, or third party can control or censor it.
Bitcoin has two primary features (as do most other cryptocurrencies):
  1. Send Value You can send value to anyone, anywhere in the world. Nobody can intercept, delay or stop it — not even governments or financial institutions. Unlike with traditional money transfers or bank wires, there are no layers of middlemen. This results in a process that is much more cost-efficient. Some popular use-cases include remittances and cross-border payments.
  2. Store Value With nothing but a smartphone, you can become your own bank and store your own funds. Nobody can seize your assets. The funds are digital and stored on a blockchain. Your money no longer needs to be stored at a bank, in a vault, or under your mattress. I covered a few inspiring use-cases in a previous post. They include banking the unbanked, protecting assets from government seizure, mitigating the risk of a bank run, and protection against hyperinflation (like what recently happened in Venezuela).
The fact that there are so few things one can do with Bitcoin is one of its greatest strengths.
Its design is simple, elegant, and focused. It has been 10+ years since Satoshi’s white paper and no one has been able to crack or hack the Bitcoin network. With a market cap of $170B, there is plenty of incentive to try.
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Public Awareness

A few negative moments in Bitcoin’s history include the collapse of Mt. Gox — which resulted in hundreds of millions of customer funds being stolen — as well as Bitcoin’s role in dark markets like Silk Road — where Bitcoin arguably found its initial userbase.
However, like most breakthrough technology, Bitcoin is neither good nor bad. It’s neutral. People can use it for good or they can use it for evil. Thankfully, it’s being used less and less for illicit activity. Criminals are starting to understand that transactions on a blockchain are public and traceable — it’s exactly the type of system they usually try to avoid. And it’s true, at this point “a lot more” crimes are actually committed with fiat than crypto.
As a result, the perception of bitcoin and cryptocurrency has been changing over the years to a more positive light.
Bitcoin has even started to enter the world of media & entertainment. It’s been mentioned in Hollywood films like Spiderman: Into the Spider-Verse and in songs from major artists like Eminem. It’s been mentioned in countless TV shows like Billions, The Simpsons, Big Bang Theory, Gray’s Anatomy, Family Guy, and more.
As covid19 has ravaged economies and central banks have been printing money, Bitcoin has caught the attention of many legendary Wall Street investors like Paul Tudor Jones, saying that Bitcoin is a great bet against inflation (reminding him of Gold in the 1970s).
Cash App already lets their 25M users buy Bitcoin. It’s rumored that PayPal and Venmo will soon let their 325M users start buying Bitcoin. Bitcoin is by far the most dominant cryptocurrency and is showing no signs of slowing down. For more than a decade it has delivered on its core use-cases — being able to send or store value.
At this point, Bitcoin has very much entered the zeitgeist of modern pop culture — at least in the West.
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Ethereum: Programmable Money

When Ethereum launched in 2015, it opened up a world of new possibilities and use-cases for crypto. With Ethereum Smart Contracts (i.e. applications), this exciting new digital money (cryptocurrency) became a lot less dumb. Developers could now build applications that go beyond the simple use-cases of “send value” & “store value.” They could program cryptocurrency to have rules, behavior, and logic to respond to different inputs. And always enforced by code. Additional reading on Ethereum from Linda Xie or Vitalik Buterin.
Because these applications are built on blockchain technology (Ethereum), they preserve many of the same characteristics as Bitcoin: no one can stop, censor or shut down these apps because they are decentralized.
One of the first major use-cases on Ethereum was the ability to mint and create your own token, your own cryptocurrency. Many companies used this as a way to fundraise from the public. This led to the 2017 ICO bubble (Initial Coin Offerings). Some tokens — and the apps/networks they powered — were fascinating and innovative. Most tokens were pointless. And many tokens were outright scams. Additional token reading from Fred Ehrsam, Balaji, and Naval.
https://reddit.com/link/ho4bif/video/b5b1jh9ofu951/player

Digital Gold Rush

Just as tokens grew in popularity in 2017–2018, so did online marketplaces where these tokens could be bought, sold, and traded. This was a fledgling asset class — the merchants selling picks, axes, and shovels were finally starting to emerge.
I had a front-row seat — both as an investor and token creator. This was the Wild West with all the frontier drama & scandal that you’d expect.
Binance — now the world’s largest crypto exchange —was launched during this time. They along with many others (especially from Asia) made it really easy for speculators, traders, and degenerate gamblers to participate in these markets. Similar to other financial markets, the goal was straightforward: buy low and sell high.
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That period left an embarrassing stain on our industry that we’ve still been trying to recover from. It was a period rampant with market manipulation, pump-and-dumps, and scams. To some extent, the crypto industry still suffers from that today, but it’s nothing compared to what it was then.
While the potential of getting filthy rich brought a lot of fly-by-nighters and charlatans into the industry, it also brought a lot of innovators, entrepreneurs, and builders.
The launch and growth of Ethereum has been an incredible technological breakthrough. As with past tech breakthroughs, it has led to a wave of innovation, experimentation, and development. The creativity around tokens, smart contracts, and decentralized applications has been fascinating to witness. Now a few years later, the fruits of those labors are starting to be realized.

DeFi: Decentralized Finance

So as a reminder, tokens are cryptocurrencies. Cryptocurrencies can carry value. And value is a lot like money. Because tokens are natively integrated with Ethereum, it’s been natural for developers to build applications related to financial services — things like lending, borrowing, saving, investing, payments, and insurance. In the last few years, there has been a groundswell of developer momentum building in this area of financial protocols. This segment of the industry is known as DeFi (Decentralized Finance).
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In Q2 of 2020, 97% of all Ethereum activity was DeFi-related. Total DeFi transaction volume has reached $11.5B. The current value locked inside DeFi protocols is approaching $2 Billion (double from a month ago). DeFi’s meteoric growth cannot be ignored.
Most of that growth can be attributed to exciting protocols like Compound, Maker, Synthetix, Balancer, Aave, dYdX, and Uniswap. These DeFi protocols and the financial services they offer are quickly becoming some of the most popular use-cases for blockchain technology today.
https://preview.redd.it/wn3phnkqfu951.png?width=800&format=png&auto=webp&s=02f56caa6b94aa59eadd6e368ef9346ba10c7611
This impressive growth in DeFi certainly hasn’t come without growing pains. Unlike with Bitcoin, there are near-infinite applications one can develop on Ethereum. Sometimes bugs (or typos) can slip through code reviews, testing, and audits — resulting in loss of funds.
Our next post will go much deeper on DeFi.

Wrap Up

I know that for the hardcore crypto people, what we covered today is nothing new. But for those who are still getting up to speed, welcome! I hope this was helpful and that it fuels your interest to learn more.
Until you understand the basics of this technology, you won’t be able to fully appreciate the impact that it has on our new digital bank, Genesis Block. You won’t be able to understand the implications, how it relates, or how it helps.
After today’s post, some of you probably have a lot more questions. What are specific examples or use-cases of DeFi? Why does it need to be on a blockchain? What benefits does it bring to Genesis Block and our users?
In upcoming posts, we answer these questions. Today’s post was just Level 1. It set the foundation for where we’re headed next: even deeper down the crypto rabbit hole.
---
Other Ways to Consume Today's Episode:
We have a lot more content coming. Be sure to follow our channels: https://genesisblock.com/follow/
Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
submitted by mickhagen to genesisblockhq [link] [comments]

Act 22 new annual compliance raised from $300 to $5000!

This was warned about when they raised the annual compliance fee from $50 to $300 in 2015, but Society leaders, as it now turns out, made a grave mistake in dismissing the concerns from the wiser posters. Objectors at the time correctly pointed out that if the $300 fee wasn't stopped, there would be nothing to stop the Puerto Rican government from ratcheting up the annual compliance fee further in the future. This is an indirect, underhanded, backdoor tax on decree holders that shows the Puerto Rican government cannot be trusted. This implies there are 2380 Act 22 Decree Holders. $11,900,000/$5000=2380.
Just as the Puerto Rico government tried to circumvent getting the required approval for contracts over $10,000,000, with the Covid-19 testing kits, by instead claiming they were "purchase orders" instead of "contracts," Puerto Rico government is now sticking Act 22 Individual Investors with another $5000 tax, by raising the annual compliance "fee" from $300 to $5000, an increase of over 1500%!!! These ever higher ratcheting fees have made these programs only for the "super rich." There is no rational basis for the fee to increase by $4700 in one year.
So now its $5000 to apply for Act 22, $5000 to accept Act 22, then $15,000 more annually from the $10,000 annual charitable donation and $5000 more for annual filing? That's $25,000 total in the first year, and $15,000 or more every year, something that only the "super rich" can afford. I thought The Society was going to use its unified voice to protect Act 22 people, not only represent the "super rich." How are the benefits being preserved, when instead the decree holders that are not "super rich" are being squeezed to death with soaring taxes, hidden as soaring annual compliance filing fees?
What is to stop Puerto Rico politicians from raising the annual compliance filing fee to $50,000? As the fee is not commensurate with the costs to process the annual reports, it shows this is nothing but an underhanded illegal tax, disguised as a fee, mislabeled as a fee. Why should the annual filing compliance fee go up 100x in 5 years? That's egregiously unreasonable. Similar government arrogance is what killed the tax incentive program in the US Virgin Islands.

Lawsuit? Who can create a Puerto Rico charitable foundation with its mission to keep the Puerto Rican government honest? For those who are required to do the $5000+$5000 forced annual donations, a new charitable foundation should be established to promote honest government in Puerto Rico, to accept these donations.

I will be telling all my friends to not move to Puerto Rico because the government can't be trusted to honor the decrees without sneaking in underhanded, indirect taxes, that are mischaracterized as annual filing fees.

First article is somewhat inaccurate/misleading, since it applies to ALL Act 22 decree holders, not just those involved in cryptocurrency. It will harm everyone involved in the program, and deter many others from coming. Only the "super rich" will keep coming to Puerto Rico or stay in Puerto Rico.
https://decrypt.co/26245/puerto-rico-new-law-crypto-tax-more-expensive
New law threatens Puerto Rico’s status as crypto tax haven

Puerto Rico Governor Wanda Vazquez has signed a new law into effect that increases the yearly fee associated with tax incentives for crypto entrepreneurs.

By Jaime Chacon3 min read
Apr 21, 2020

Crypto investors and entrepreneurs looking to take advantage of Puerto Rico’s favorable tax incentives will now find it more costly to do so.
Late last week, Governor Wanda Vazquez signed Law 40-2020 into effect, which made a key change to the rules that govern tax incentives for new residents. Previously, investors who moved to the island and applied for these incentives were required to pay a yearly fee of $300 for the privilege. The new law increases that yearly fee to $5,000.
The Puerto Rican government expects to generate $11.9 million in fees with this rate increase in an update to what was formerly known as law 22-2012. The new legislation also provides a tax contribution reduction of 3% for those who earn $100,000 or less.
"The increment in maintenance costs for the decrees raises the bar for those who take part and for potential investors looking to relocate to the island for the tax benefits,” Giovanni Méndez, managing partner at Puerto Rican tax consulting firm Geo Tax, told Decrypt.
“The higher fee assumes that all of the participants are millionaires who hold fortunes with immediate liquidity. Those of us in the community know that this is not the case for a large part of investors and entrepreneurs that have relocated to the island," he said. Indeed, the fees and other requirements apply to anyone who has lived in Puerto Rico for at least six months and applies for tax relief for his or her business.

Building a blockchain island in Puerto Rico

SAN JUAN—Is Puerto Rico any closer to becoming the “crypto haven” that blockchain entrepreneurs and investors once promised? The attendees of Thursday’s fourth-annual CoinAgenda Caribbean conf...
NewsBusinessJaime ChaconMar 3, 2020
According to Geo Tax, the total cost of moving to the island to save on taxes includes a $750 filing fee, $5,000 special fund fee once approved, $10,000 yearly donation (split in two), plus the new $5,000 yearly fee.
"Regarding investors in the cryptocurrency market, the increase in costs affects whether some will remain on the island due to the volatility of the market and changes in value,” said Méndez. “The new Incentives Code brought sections that incorporate benefits to the crypto and blockchain markets which is something positive, but it clearly contrasts with this last legislation,” he said.
It’s these tax incentives that have brought entrepreneurs from across various industries, including cryptocurrency, to the US commonwealth. Co-founder of EOS Alliance Block.one Brock Pierce and gold proponent (and Bitcoin skeptic) Peter Shiff, for example, make Puerto Rico their home for at least half the year.
Just last month, during the CoinAgenda Caribbean conference in San Juan, Pierce reiterated his optimism that Puerto Rico can still become the “blockchain island”—a beacon for the industry—that was once promised.
NEXT...
https://coingeek.com/puerto-rico-changes-gears-on-digital-currency-haven-status
Business 23 April 2020
Noah Bradley 📷
Puerto Rico was once seen as a perfect location for digital currency startups. It had considerable tax incentives in place that benefited investors and entrepreneurs, which led to an increase in the development of business solutions in the U.S.-controlled territory. However, either by design or due to economic shortcomings caused by the coronavirus and other disasters, Puerto Rico needs to find new sources of revenue. As a result, a new law has been approved that will change the structure of the digital currency tax incentive programs in place.
Puerto Rico Governor Wanda Vazquez approved a new law last week, Law 40-2020, that alters the way tax incentives are provided to new residents. Spanish media outlet El Nuevo Día (The New Day) points out that the previous annual fee of $300 for those who moved to the island and applied for the incentive has been substantially increased. It has now jumped up to $5,000, and is expected to generate an additional $11.9 million for the government. In addition, there is also a new tax contribution reduction equal to 3% for anyone who earns $100,000 or less.
In correspondence with Decrypt, Puerto Rican tax consultant Giovanni Méndez, representing tax consulting firm Geo Tax, says, “The increment in maintenance costs for the decrees raises the bar for those who take part and for potential investors looking to relocate to the island for the tax benefits. The higher fee assumes that all of the participants are millionaires who hold fortunes with immediate liquidity. Those of us in the community know that this is not the case for a large part of investors and entrepreneurs that have relocated to the island.”
Now, for anyone wishing to move to the island, the upfront expenses are much higher, somewhat negating the existing tax incentives. There is a $750 filing fee, a $5,000 “special fund fee” if the filing application is approved, a $10,000 obligatory annual contribution (with the possibility of having the fee made in two payments) and the new $5,000 fee.
The structure will be detrimental to entities in the blockchain and digital currency spaces, and Méndez adds, “Regarding investors in the cryptocurrency market, the increase in costs affects whether some will remain on the island due to the volatility of the market and changes in value. The new Incentives Code brought sections that incorporate benefits to the crypto and blockchain markets which is something positive, but it clearly contrasts with this last legislation.”
The changes could force many who have decided to call the territory home to pack up and look for better, cheaper alternatives. Puerto Rico has been slammed by a number of major storms in recent years that have almost decimated its infrastructure, and the U.S. has been indifferent in providing a considerable amount of relief. The weakened foundation and the new fees might be enough to thwart Puerto Rico’s plans of being a major digital currency hub.
NEXT...Key part translated from Spanish...
https://www.elnuevodia.com/noticias/locales/nota/wandavazquezfirmaenmiendasalareformacontributiva-2562250
imposes a contribution of $5,000, previously $300 - for the delivery of each annual report presented by the citizens benefiting from the benefits. of the Law to Encourage the Transfer of Individual Investors to Puerto Rico, previously known as Law 22-2012.
That last increase will generate $ 11.9 million new, according to Soto told the press.
submitted by wdyg to act2022 [link] [comments]

List of moderately difficult skribbl words for your new friend group (1200+ words)

That is to say that this list contains words that this list contains words that:
  1. Usually aren't instantly guess-able (like star, apple, or Nike).
  2. Can be played with a group of acquaintances (I play with a group of interns at work to blow off time)
Created this list by modifying an existing difficult word list we found online and adding a bunch of new words. If you see a stupid difficult word, it was probably a word from the existing difficult word list that I forgot to remove. (amicable and reimbursement were the type of bs I removed lol).
abraham lincoln, accordion, accounting, acre, actor, adidas, advertisement, air conditioner, aircraft carrier, airport security, alarm clock, alcohol, alert, alice in wonderland, alphabet, altitude, amusement park, angel, angle, angry, ankle, apathetic, apathy, apparatus, applause, application, apron, archaeologist, archer, armada, arrows, art gallery, ashamed, asteroid, athlete, atlantis, atlas, atmosphere, attack, attic, audi, aunt, austin powers, australia, author, avalanche, avocado, award, baby, baby-sitter, back flip, back seat, baggage, baguette, baker, balance beam, bald, balloon, bamboo, banister, barbershop, barney, baseboards, bat, beans, beanstalk, beard, bed and breakfast, bedbug, beer pong, belt, beluga whale, berlin wall, bible, biceps, bikini, binder, biohazard, biology, birthday, biscuit, bisexual, bitcoin, black hole, blacksmith, bleach, blizzard, blueprint, bluetooth, blunt, blush, boa constrictor, bobsled, bonnet, book, bookend, bookstore, border, boromir, bottle cap, boulevard, boundary, bow tie, bowling, boxing, braces, brain, brainstorm, brand, bride, bride wig, bruise, brunette, bubble, bubble bath, bucket, buckle, buffalo, bugs bunny, bulldog, bumble bee, bunny, burrito, bus, bushel, butterfly, buzz lightyear, cabin, cable car, cadaver, cake, calculator, calendar, calf, calm, camera, cannon, cape, captain, captain america, car, car accident, carat, cardboard, carnival, carpenter, carpet, cartography, cartoon, cartoonist, castaway, castle, cat, catalog, cattle, cd, ceiling, cell, cellar, centimetre, centipede, century, chain mail, chain saw, chair, champion, chandelier, channel, chaos, charger, chariot, chariot racing, check, cheerleader, cheerleader dust, chef, chemical, cherub, chess, chevrolet, chick-fil-a, chicken coop, chicken legs, chicken nugget, chime, chimney, china, chisel, chord, church, circus tent, clamp, classroom, cleaning spray, cliff, cliff diving, climate, clique, cloak, clog, clown, clue, coach, coast, cockpit, coconut, coffee, coil, comedian, comfy, commercial, community, companion, company, compare, comparison, compromise, computer, computer monitor, con, confidant, confide, consent, constrictor, convenience store, conversation, convertible, conveyor belt, copyright, cord, corduroy, coronavirus, correct, cot, country, county fair, courthouse, cousin, cowboy, coworker, cramp, crane, cranium, crate, crayon, cream, creator, credit, crew, crib, crime, crisp, criticize, crop duster, crow's nest, cruise, cruise ship, crumbs, crust, cubicle, cubit, cupcake, curtain, cushion, customer, cutlass, czar, dab, daffy duck, dance, danger, darth vader, darts, dashboard, daughter, dead end, deadpool, deceive, decipher, deep, default, defect, degree, deliver, demanding, demon, dent, dentist, deodorant, depth, descendant, destruction, detail, detective, diagonal, dice, dictate, disco, disc jockey, discovery, disgust, dismantle, distraction, ditch, diver, diversify, diversity, diving, divorce, dizzy, dodge ball, dog, dolphin, donald trump, doorbell, doppelganger, dorsal, double, doubloon, doubt, doubtful, download, downpour, dragon, drain, dream, dream works, dress shirt, drift, drip, dripping, drive-through, drought, drowning, drugstore, dryer, dryer sheet, dryer sheets, dugout, dumbbell, dumbo, dust, dust bunny, duvet, earache, earmuffs, earthquake, economics, edge, edit, education, eel, effect, egg, eiffel tower, eighteen-wheeler, electrical outlet, elf, elope, emigrate, emotions, emperor, employee, enemy, engaged, equation, error, eureka, everglades, evolution, exam, exercise, exhibition, expired, explore, exponential, extension, extension cord, eyeball, fabric, factory, fad, fade, fake flowers, family tree, fan, fast food, faucet, feather, feeder road, feeling, ferris wheel, fiddle, figment, finding nemo, firefighter, firefox, fireman, fireman pole, fireplace, fireside, fireworks, first class, first mate, fish bone, fishing, fizz, flag, flat, flavor, flight, flip flops, flock, florist, flotsam, flowchart, flower, flu, flute, flutter, flying saucer, fog, foil, food court, football player, forklift, form, forrest gump, fossil, fowl, fragment, frame, fresh water, freshwater, friction, fries, front, frost, fuel, full, full moon, fun, fun house, funnel, fur, galaxy, gallon, gallop, game, gamer, garden, garden hose, gas station, gasoline, gavel, gentleman, geologist, germ, germany, geyser, giant, ginger, giraffe, gladiator, glasses, glitter, glue, glue stick, goalkeeper, goatee, goblin, gold, gold medal, golden retriever, gondola, good-bye, government, gown, graduation, grain, grandpa, gratitude, graveyard, gravity, great-grandfather, grenade, grill, grim reaper, groom, groot, group, guess, guillotine, gumball, guru, gymnast, hail, hair dryer, haircut, half, hand soap, handful, handle, hang, hang glider, hang ten, harry potter, hawaii, hay wagon, hearse, heater, heaven, helmet, hermit crab, high heel, high tops, highchair, hitler, hockey, homework, honk, hoodies, hoop, hopscotch, hot, hot dog, hot fuzz, hot tub, hotel, houseboat, human, humidity, hunter, hurdle, husband, hut, hydrant, hydrogen, hypothermia, ice, ice cream cone, ice fishing, icicle, idea, igloo, illuminati, implode, important, improve, in-law, incisor, income, income tax, index, inertia, infect, inglorious bastards, inside out, insurance, interception, interference, interject, internet, invent, invisible, invitation, iron man, ironic, irrational, irrigation, isaac newton, island, ivy, ivy full, jackhammer, japan, jaw, jazz, jedi, jellyfish, jet lag, jig, jigsaw, joke, joker, journal, juggle, jump rope, jungle, junk, junk drawer, junk mail, justice, kangaroo, ketchup, kill bill, killer, kilogram, kim possible, kiss, kitten, kiwi, kit-kat, kneel, knight, koala, lace, lady bug, ladybug, lamp, lance, landfill, landlord, lap, laptop, last, laundry detergent, layover, leak, leap year, learn, leather, lebron james, lecture, legolas, leprechaun, letter, letter opener, lettuce, level, lice, lichen, lie, lifeguard, lifejacket, lifestyle, light, lightning, lightning mcqueen, lightsaber, limit, lion, lipstick, living room, lobster, logo, loiterer, lollipop, loonie, lord of the rings, lottery, love, loveseat, loyalty, lullaby, lumberjack, lumberyard, lunar eclipse, lunar rover, lung, lyrics, macaroni, machete, machine, macho, magnet, mailbox, makeup, mammoth, manatee, mark zuckerberg, martian, mascot, mascot fireman, mask, mast, mastercard, mat, mayhem, mechanic, megaphone, member, memory, mercedes benz, mermaid, meteor, michael scott, michelangelo, microscope, microsoft, microsoft word, microwave, midnight, migrate, millionaire, mime, mine, mine car, miner, minivan, mirror, missile, mitten, mohawk, moisturizer, molar, mold, mom, monsoon, monster, monsters inc, mooch, moonwalk, moth, mount rushmore, mozart, mr potato head, mulan, mummy, music, mysterious, myth, name, nanny, naruto, navigate, negotiate, neighborhood, nemo, nepal, nest, netflix, neutron, newsletter, night, nightmare, nike, north pole, nose, nostril, nurse, nutmeg, oar, obey, observatory, office, offstage, olive oil, olympics, one-way street, opaque, optometrist, orange juice, orbit, organ, organize, ornament, ornithologist, ounce, oven, owl, oyster, pacific ocean, pacifier, page, pail, pain, palace, pancakes, panda, panic, pantyhose, paper plate, paperclip, parade, paranoid, parent, parking garage, parley, parody, partner, password, pastry, patrick starr, pawnshop, peace, peacock, peanut, peasant, pelt, pen pal, pendulum, pepsi, periwinkle, personal, pest, pet store, petroleum, pharaoh, pharmacist, philosopher, phineas and ferb, phone, photo, piano, pickup truck, picnic, pigpen, pigtails, pile, pilgrim, pilot, pinboard, pineapple express, ping pong, pink panther, pipe, pirate, pizza, pizza sauce, plan, plank, plantation, plastic, playground, pleasure, plow, plumber, pocket, pocket watch, point, pokeball, pokemon, pole, police, pomp, pompous, pong, popeye, population, portfolio, positive, positive champion, post, post office, practice, president, preteen, prey, prime meridian, printer ink, prize, produce, professor, profit, promise, propose, protestant, psychologist, publisher, pumpkin, pumpkin pie, punching bag, punishment, punk, puppet, putty, quadrant, quarantine, quartz, queue, quicksand, quit, quiver, raccoon, race, raft, rage, rainbow, raindrop, rainwater, random, raphael, ratatouille, ratchet, ray, reaction, realm, ream, receipt, recess, record, recorder, recycle, referee, refund, regret, religion, remain, resourceful, rest stop, retail, retire, reveal, revenge, reward, rhyme, rhythm, rib, rick and morty, riddle, right, rim, rind, ringleader, risk, rival, robe, robot, rock band, rocket, rodeo, roller coaster, roommate, roundabout, rowboat, rubber, ruby, rudder, runt, rv, s'mores, safe, salmon, salt, sand castle, sandbox, sandbox bruise, sandpaper, santa claus, sap, sapphire, sash, sasquatch, satellite, saturn, sausage, saxophone, scarf, scatter, schedule, school, school bus, science, scissors, scooby doo, scrambled eggs, scream, screwdriver, script, scuba diving, scythe, seahorse, season, seat, seat belt, seed, serial killer, servant, sewer, shaft, shakespeare, shame, shampoo, sheep, sheets, shelter, sherlock holmes, shipwreck, shoelace, shopping cart, shotgun wedding, shower, shower curtain, shrew, shrink, shrink ray, sickle, sidekick, siesta, signal, silhouette, silt, simba, simpsons, skateboard, skating rink, ski goggles, ski lift, skip, skipping rope, skydiving, slack, sleep, sleet, slim shady, slipper, slump, snag, snapchat, sneeze, snooze, snore, snow globe, snowball, snowflake, soak, social distancing, socks, softball, solar eclipse, somersault, song, sophomore, soul, soulmate, soviet russia, space, space-time, spaceship, spaghetti, spare, speakers, spiderman, spirited away, sponge, spoon, spotify, spring, sprinkler, squat, stage, stage fright, stagecoach, stairs, staple, starbucks, starfish, startup, star trek, statement, stationery, statue of liberty, stay, steamboat, steel drum, stethoscope, stew, stewie griffin, sticky note, stingray, stockings, stork, storm trooper, story, stout, stowaway, stranger, strawberry, streamline, student, stuff, stun, submarine, sugar, suit, sun, sunburn, sunlight, sunscreen, superbad, superman, surfing, sushi, swamp, swarm, sweater, swim shorts, swing dancing, switzerland, swimming, syringe, system, tachometer, taco bell, tadpole, tag, tank, tattle, taxes, taxi, teabag, team, tearful, teenage mutant ninja turtle, teenager, teepee, telepathy, telephone booth, telescope, temper, ten, tesla, testify, tetris, thanos, the beatles, the dark knight, the prestige, theory, think, thread, thrift store, throne, ticket, tide, time, timeline, time machine, time zone, tin, tinting, tiptoe, tire, tissue box, toast, today, toddler, toilet paper, toll road, tomato sauce, tombstone, toothbrush, toothpaste, top hat, torch, tornado, toronto maple leafs, tourist, tournament, tow, tow truck, toy store, toy story, trademark, traffic jam, trail, trailer, train, train tracks, transformers, translate, transpose, trapped, trash bag, trash can, trawler, treatment, trench coat, tricycle, trip, trombone, truck, truck stop, tsunami, tub, tuba, tug, tugboat, turret, tutor, tutu, twang, twitter, umbrella, unemployed, united states, university, upgrade, vacation, vampire, van, vanilla, vanquish, vegan, vegetarian, vehicle, vein, venn diagram, vest, villain, violent, vision, vitamin, voice, voicemail, volleyball, wag, wall-e, wallet, wallow, wasabi, washing machine, water, water buffalo, water cycle, water vapor, wax, wealth, weather, wedding, wedding cake, weed, welder, werewolf, wet, wetlands, whale, whatsapp, whey, whip, whiplash, whisk, wifi, wig, wikipedia, win, wind, winnie the pooh, wish, witch, wizard, wolverine, woody, workout, world, wormhole, writhe, yacht, yak, yard, yardstick, yawn, yeti, yin yang, yoda, yodel, yolk, youtube, zamboni, zen, zero, zeus, zip code, zipper, zombie, zombieland, zoo
submitted by skribblwords to skribbl [link] [comments]

Pi Network! This golden project is an opportunity.

  1. What is Pi Network?
Pi Network is a virtual currency that can only be mined or mined on a phone, but does not consume device resources like other free mining applications. Previously Pi Network could include mining applications such as Electroneum (ETN), but this application consumes your device resources to decode the algorithm (Electroneum uses cryptonight algorithm). With Pi Network, when you dig coins will feel the device does not heat up. In addition, you can also turn off the application or turn off the network and still be able to mine coins every 24 hours.

Note:

Pi Network is still in BETA. The project is still in progress which means that there will still be errors and some details of the project are still changing. While many cryptocurrency projects start from pure theory, Pi Network seeks to balance theory with design and people-centered (or experiment with real people to best meet their needs). ). The project appreciates your patience and welcomes your input as we work together to develop products that best meet community needs. Pi does NOT give you free money. This is a long-term project whose success depends on the common contribution of its members. Pi helps people capture economic value, which is held by banks, technology giants (e.g. Facebook, Amazon) and other intermediaries. Pi depends on the contribution of the members. Therefore Pi NetWork is not suitable for those who want to make money quickly.

2. Is Pi Network scam?

Pi is not a hoax. This is an attempt by a group of Stanford University alumni to spread the cryptocurrency to more people. Pi Network's core team is led by two Stanford PhDs and one Stanford MBA, all of which help build the blockchain community at Stanford. There is no guarantee that the project will succeed. However, Pi Network will work hard to make common dreams a reality, while upholding the highest standards of transparency. You can learn more about Pi's core team on the app, or simply by typing these people 's names into the Google search page:
- Nicolas Kokkalis: Head of Technology
- Department Chengdiao Fan: Vincent
- McPhillip Product Manager: Community Manager
📷
https://preview.redd.it/rozcs5h1p4351.png?width=710&format=png&auto=webp&s=c5952d879514c33e643958aab8d5ca5ae382ba41

3. How to make money with Pi Network?

How to exploit Pi
Pi Network does not call you to invest or do anything. Your job is very simple, you just need to have a phone, download the Pi Network app and create an account, press the Start button daily and the PI digging will take place even if your computer is not connected to the internet . You also do not need to open the active application. Pi does not affect your phone performance, does not drain your battery or use your network data. To start earning Pi, check the app every 24 hours and press the lightning button to start mining. You can increase your hourly Pi rate by inviting friends and family to join the community. After 3 days of exploitation, you can increase your income even more by building your security circle, which contributes to the overall security of the network. And remember, veterans of the network have a higher rate of extraction than the members who come after them.
Why are veteran members exploiting more?
Pi's goal is to become a widely distributed and widely used electronic currency in the world. To achieve that goal, Pi encourages members to contribute early to ensure the success of the project (eg network protection and development). To reflect the importance of early contributions, the rate of extraction decreases as more people join the network. At this point, the base mining rate will be halved every time the number of active users increases by 10 times. This ratio will be reduced to zero when the network reaches a certain number of users (for example, 10 million or 100 million). At the time, like Bitcoin, miners would continue to receive rewards with transaction fees, rather than being rewarded with new coins.
What is the Pi Network security circle?
The security circle is a group of 3-5 trusted people built by each Pi member, to prevent fraudulent transactions. While cryptocurrencies like Bitcoin secure their ledgers by forcing mining companies to burn energy (proof of work), Pi still guarantees its ledger when members of the network prove trust with each other. Pi contributors guarantee each other by building up security groups of 3-5 members whom they deem reliable. The security circle should include people you trust not to make fraudulent transactions. The cyber security circles form a global trust chart to determine who can trust to conduct transactions on the Pi ledger.
https://preview.redd.it/rmekfcizo4351.png?width=710&format=png&auto=webp&s=92a054233ec9c1844b32c24b0a06d0a47e9302b1

4. What is the Pi price?

Pi is worth approximately 0 dollars / euro. Yes! If the price is $ 0, then we dig PI do? Also you wonder when PIs will be valuable? While everyone thinks that PIs are not valuable and do not participate, just like when BITCOIN 2008 had no value. If you are a PI holder PI holders have two options to convert PIs into cash:
- Buy goods and services directly with your Pi. Pi Network is building a peer-to-peer market where members can directly spend Pi to buy goods and services. Pi Network aims to start a bank transfer test in its application immediately after Q42019.
- Exchange Pi for cash on cryptocurrency exchanges. Pi will be able to be traded during Phase 3 of the project (such as when launching the Mainnet). At that time, exchanges may choose to list Pi. At this point, Pi's core team focuses on implementing the right technical roadmap to reach phase 3.
(I still remember in 2015, in MMO communities, competing to receive free coins called Raiblocks (XRB) by typing captcha, each type of such a lot of XRB, it can be said that the day that XRB has no price value, almost 0. Later in early 2018 when Raiblocks changed its name to NANO project, the peak of 1 NANO coin reached 34 USD, sweeping away the dream of millionaires of MMO people, because at XRB, they sell very cheaply for each other. You can refer to the NANO price chart below)
https://preview.redd.it/r8rll5eyo4351.png?width=710&format=png&auto=webp&s=235368ab0b53c5e1b09c2c88bd13e345ae26eaae

5. Download the Pi Network application

Pi Network currently supports both Android and iOS operating systems, you can access the Google Play app for Android or App Store for iOS and search by keyword "Pi Network" or click directly at the following link:
https://minepi.com/150791

6. Create an account and dig Pi

Step 1: After downloading the application, you open the application to register for Pi Network account

https://preview.redd.it/n74m2cbxo4351.png?width=640&format=png&auto=webp&s=33dd4f81f6cb952c065457dc1d3d53a20df739bd
In this step you can optionally register your account with Facebook or your phone number. However, you should choose the phone number to make it easier to authenticate your Pi Network account later. Choose your location, enter your phone number and click Go.

https://preview.redd.it/tkh0yo2wo4351.png?width=640&format=png&auto=webp&s=341f067a7269a5b0bc7eb9d04698d8950c06dbff
Then you enter the password and confirm the password. Note that the password must have uppercase characters, special characters like! @ # $% Or your number. Done, click Submit

https://preview.redd.it/pmp9dzjto4351.png?width=640&format=png&auto=webp&s=8712183677f5356ac79fd279e98de4e291e893c7
Then enter the First Name and Last Name.

https://preview.redd.it/f5auh8dso4351.png?width=640&format=png&auto=webp&s=e26c5c9b15548beb0edcbd4df2ac22d27a548405
Finally, the Username (this is the name for me to log into the Pi Network application, don't forget this). After filling all information, click Submit to move to the final step. In this last step, you enter the referral code is @ Leviet74 (this is my code). However, you can enter anyone's referral code. But when entering my code, I am very thankful and if there is any problem that needs support I will be very enthusiastic.
So you have completed the Pi Network registration, now you just leave it to receive coins daily, or go referrals to others to earn more Pi.

https://preview.redd.it/2gio8gxqo4351.png?width=640&format=png&auto=webp&s=1682a4a32e54c60db542699b53bbb5287fa5a8bd
Guide to dig Pi

https://preview.redd.it/1ftbk7qpo4351.png?width=640&format=png&auto=webp&s=2e3af6d16e7a47535957387e8e409bbca4d72d0c
Click Get Started and click on the lightning image to start digging PI.

https://preview.redd.it/70q1n5poo4351.png?width=640&format=png&auto=webp&s=a0c0dc927027d7ad4c1999b4ae9c9a5daf9b6896
The amount of Pi you mine per hour is shown in the Ambassador section. If your lower members mine Pi, you will receive (25% x 0.39pi x the number of people). However, if they are not online for more than 1 day, you will not receive Pi from them, so you press Ping Inactive to push them to notify the application access.

https://preview.redd.it/ptu36tmmo4351.png?width=640&format=png&auto=webp&s=bb70cc8e19ecdb9ccbaa36e5ee52be6dcc68e842
Add people to the security circle
After 3 days of digging Pi, you will open a security circle, what it is, please read the above article, here you can add acquaintances to dig more Pi together.

https://preview.redd.it/84bnhfbjo4351.png?width=710&format=png&auto=webp&s=b8aa75b135d4cf00d75a6f23ad1933cdead901d9
Verify Pi Network account
You need to verify your account so that stage 4 of the project can be withdrawn. To verify Pi Network, access Profile and select Verify as shown:

https://preview.redd.it/h6pkp9tgo4351.png?width=640&format=png&auto=webp&s=5c0a2677b7bed0d39a75a1e825449f4b4503c990
There are two options for verifying your account: getting a verification code (only applicable to the US and Canada) or sending a message to Pi Network. You will have to use option 2 and press Start.
https://preview.redd.it/woyptgmeo4351.png?width=640&format=png&auto=webp&s=d67d1b01deb51d038c1411177a1dd7e0274dfd4e
Then click Open SMS to let Pi Network compose a message to send a 4-digit code.

https://preview.redd.it/ohu1d19ao4351.png?width=710&format=png&auto=webp&s=7a1c8a726b5938280a58f1343feb73223b02ba66
Note that Pi will generate 4-digit code itself, you do not edit anything and just click Submit.
https://preview.redd.it/orymp2vzn4351.png?width=710&format=png&auto=webp&s=c0002a9841fbc4db8ed5a3a040d1ddbd71500e14
If the Pi application verifies that you have successfully verified your account.

7. How to draw Pi?

You cannot withdraw the Pi. You will be able to withdraw Pi or exchange Pi for other currencies during Phase 3 of the project, when Pi switches to a completely decentralized blockchain. Phase 1 of Project Pi is on March 14, 2019 (Pi Day). In Stage 1, your balance is being recorded to wait for the day Pi reaches the mainnet (Phase 3). The transfer or withdrawal of Pi is restricted until the mainnet launch, to prevent fraudulent actions, such as clone users to dig Pi, then transfer Pi to another account and legalize the process. verify your account and use that nefarious Pi number.

8. Should you dig Pi on multiple phones?

No, you SHOULD NOT dig PI on many devices. Pi Network adheres to a strict rule, meaning that only one account can be used per person. Pi Network uses a multi-pronged strategy to ensure that fake accounts cannot exploit Pi
First, the Pi network uses Google Recaptcha v3 to know which devices are operated by humans or robots. (This technology is completely invisible to most users, because they are real people, but robots can see the captcha if the google algorithm captures them.) Over time, Pi Network is developing a machine learning algorithm based on actual user exploitation behavior to predict bots.
Second, the Pi consensus algorithm (security circle) makes it easy to detect fake accounts. The fake account will not have enough real people to link to them through the security circle. Thus fake accounts will have less linkage with the rest of the network. This anomaly is easy to detect with computer algorithms.
Finally, when Pi enters Stage 3 and 4 - Mainnet, only authenticated accounts can exist. Buy

9. Where to buy and sell Pi?

Currently, there is only 1 exchange, AACoin listed PI (https://www.aacoin.com/trade/PI\_USDT) in the form of short purchase and sale, meaning that they buy and sell PI but do not actually own any PI. Because PIs have not been withdrawn until entering phase 3 (mainnet), all PI trading platforms are fraudulent. The Pi Core team also issued a warning. In addition, users should not buy and sell Pi transactions on the black market through the sale of accounts, because all of us have not been able to price Pi, so there are many potential risks.
https://preview.redd.it/d6lzfxfxn4351.png?width=710&format=png&auto=webp&s=c61ce72af1a56af4367c32b441ddfe25b9462a30
submitted by thanhbkpr to u/thanhbkpr [link] [comments]

Top 5 Mobile Crypto Games

Top 5 Mobile Crypto Games

We collected for you a small, conditional top crypto games

We cannot but mention our game, but we cannot add it to the top, as this will not be objective
Therefore, one game outside the heading:

Merge cats

https://preview.redd.it/a0t3mc4wvml41.png?width=1874&format=png&auto=webp&s=3936eab9eab8cdae558247d91d3828289ee2ba9e
Merge Cats is a сasual game with flying cats and cryptocurrency. Cats fly along the flight path and earn coins. Cats can be improved by combining them. Two сats of the same level when combined give one cat of a higher level.
The player can earn cryptocurrency by completing tasks, both daily and basic, inviting friends, etc.
The game uses an ERC-20 token, which is traded on the exchange And also, the company burns half of the tokens used in the game, which allows you to maintain the price

5. Idle Bitcoin Inc


https://preview.redd.it/rrjxjqa0wml41.png?width=393&format=png&auto=webp&s=7d4a1b4a4b9a2781dc3e80451854934f592cb87a
“Bitcoins are a cryptic mystery, but if you manage to crack the code, it might turn out to be a holy grail. Filled with CASH! Become a cryptocurrency tycoon and hire an army of robotic miner minions to fill your digital wallet with bitcoins! Drive them to work around the clock to decrypt codes and mine virtual currency that will make you insanely rich! And if anyone tells you cryptocurrencies are just a bubble, just sit back and watch it burst” — That’s what the developers say about this game.
Classic idle where you have to build a bitcoin empire by clicking and improving your buildings
Here you can not withdraw any cryptocurrency from the game

4. Crypto Rider


https://preview.redd.it/leheusf6wml41.png?width=396&format=png&auto=webp&s=e4e5a1329f8c30256de8b90d0d4eed3ab93e4ede
In this game you will have the opportunity to ride on real cryptocurrency rate charts (data taken on March 29, 2018).
Fast paced racing action 9 different Crypto themed cars to unlock 10 tracks to race on! Compete for the top spot on global leaderboards! Shill your high score to your friends with the sharing feature
Never drove on the highway from the cryptocurrency rate? It’s time to start
Here you can not withdraw any cryptocurrency from the game

3. The Crypto Games: Bitcoin Tycoon


https://preview.redd.it/i1sgwo5cwml41.png?width=370&format=png&auto=webp&s=51f10d2e8c4124a23099d5d3d3fab72fac0754a7
Idle game where you have to build your farm, mine bitcoins, consider a hash rate, create a mining pool(Creating something like guilds in this game), etc.
Classic idle, fun design and interface, but unfortunately there are no ways to get any cryptocurrency.
So if you like clickers and idles — go ahead and build a bitcoin empire.

2. Crypto Idle Miner


https://preview.redd.it/c7u5kupfwml41.png?width=1227&format=png&auto=webp&s=179d28562b683a38137ce59778822e35672676d4
“ Build. Manage. HODL! Create your own crypto empire and become the ultimate Bitcoin Tycoon!”
In this clicker you have to build your crypto empire. Engage in management, hire people, improve your technology and become a cryptocurrency millionaire.
From this game you can derive a HORA token, for winning tournaments once a week. But, unfortunately, we did not find where you can sell this token and withdraw money

1.Bitcoin Blast — Earn REAL Bitcoin!

https://preview.redd.it/ib9imkxlwml41.png?width=349&format=png&auto=webp&s=44ed4018bdb5e6e4ff04d06d1bda6305e1423004
An application such as match 3. The design is extremely inhospitable, the mechanics are as old as the world and there is nothing new in it.
The only reason this game comes first is that they withdraw real cryptocurrency that you can sell and withdraw money to your account.
“It takes a lot of time to earn enough loyalty points to cash out a significant amount of bitcoins. Most users earn an amount that is only one cent (USD). *” — This is written by developers in their description on Google Play, which, on average, is actually
If you like games like match 3 and want to get some crypto, we recommend
Crypto games are just starting their way in the gaming industry, but we are sure that they have a great future and are very glad that more and more projects are appearing This means that there are people who believe in the idea and will move it with us, we hope that you believe in our ideas and will support them

. . .

You can get acquainted with Crypto Soul Here
submitted by CryptoSoul_ to CryptoSoul [link] [comments]

I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn.

/edit: Hi /all. While I have your attention, I want to take 5 seconds of your time and bring some exposure to something that is threatening our existence as the human race. If you aren't interested, please skip down to the main article. I'm talking about finding a way to live sustainably on this planet, regenerative agriculture, where we get our food from, and how we can make sure that our kids and grandkids have something left once we leave.
Please consider reading up on Permaculture, sustainable living, Forest gardening, Backyard Chickens, etc. Consider following what I did and do it for yourself. This all used to be a useless lawn.
Bored for a night? Go watch "Sustainable" on Netflix.
Look into people like Geoff Lawton, Mark Shepard, Sepp Holzer, these people are going to save us.
Want to make a small change yourself? Grow a tomato plant on your balcony in a pot. Reduce transport of the tomatoes you eat, and make ~$50 per plant in saved money. Want to do something bigger? Plant a fruit tree in your backyard. Maybe two. Maybe a raspberry bush. You are now part of saving the human race.
If everyone reading this planted a fruit tree, or even some wild flowers, we could save the bees.
While you are at it, planting a fruit tree has been shown to be one of the best investments on the planet. There's pretty much no investment on the planet that is more financially lucrative (while still being nearly bullet-proof safe) than planting a fruit tree.
You can get a tree at an end of sale auction for literally 5-10 bucks, and that tree will produce THOUSANDS of dollars of fruit for you in it's lifetime. Go spend $200 bucks at an end of season sale, plant 10-20 trees (if you have room), and that $200 will be worth tens of thousands of dollars of saved money.
Do it right, set it up right and it's almost no work because you offload the work to nature - as it has done for the last few billion years. Go learn how, let me show you how. If you do it right, it's zero work after you have planted and wood-chipped, and all you do is pull dollars off a tree.
Original post starts below. I apologize for the shilling of Permaculture, but I think loss of topsoil will impact us all if we don't reverse it soon. We need soil, we need bees, we need food. We need to stop buying December Bananas in Canada. We need to start supporting local permaculture sustainable farms. We need to do this or we may not make it, and our grandkids stand no chance.
I also expended the "now what happens" section, to explain how these pullbacks are a good thing, make crypto more stable, and why we keep seeing larger ceilings after every pullback... this stuff is really important for you to make money on this thing, if that's your goal....
I've made a similar post in a few spots, and this is something that is absolutely critical for people to understand... what impacts price, and what is going on lately. Price has only a very minor correlation with money invested, and a major correlation with opinion.
... and Humans are an emotional bunch.
So what drives price of any commodity, crypto, gold, pizzas, whatever? The money invested in it, right? Kind of, but not really. What if I told you that you could theoretically raise bitcoin from $15k to $20k by spending $1, and lower it from $25k to $1k by spending the same $1? Crazy right?
AN EXAMPLE
This is going to start out slow, I want to make sure I get everyone on the same page before I pick things up and lift the curtain. Stick with me here....
This is an example to help illustrate why prices aren't driven by money invested, but rather consensus and opinion. Lets imagine the following exists (we will use bitcoin as an example, but this is how everything on the planet works)
Lets say Bitcoin is currently priced at $10k (the last sale). From $11k to $99k, every $1k there is someone with a sell order of 1 full bitcoin. From $9k to $1 dollar, every $1k on the way down there is someone with a buy order of 1 full bitcoin.
So, right now if you wanted to buy bitcoin you have several options... meet the lowest seller's price of $11k, or, put your own buy order up, above the highest buyer's bid order (overcut them). If you decide to just place an order, the price doesn't change. If you decide the buy the $11k bitcoin, now bitcoins value is $11k, with a new lowest sell offer of $12k, and a highest buy bid of $10k. Someone else comes in an overcuts the buy bid and puts 1 BTC for sale for $11k. No trades are made until someone matches a buy/sell.
Okay, that's kindergarten stuff, most people here understand that. So how much money drove the price up in this situation? $11k, and BTC price raised 11/10, 1.10, or 10% from the last sale. Now the entire marketcap of BTC raised 10% (last sale multiplied by circulating supply). So it takes $11k to drive a 10% increase, right? Not at all. Lets look at what happens when news is released.
News comes out that Warren Buffet thinks bitcoin is a scam, a bubble, and he wouldn't touch it with a 10 foot pole because he only invests in things he understands and he doesn't understand crypto. People panic everywhere, and believe "this guy is smart, I'm overvaluing this thing".
Suddenly people don't want to buy this scam anymore, and the buy orders for $11k, $10, and $9k are taken down.
At the same time, the people wanting to sell start to panic and just want out. The guy at $32k (who just had that offer up "just incase it moons") drops down to $11k sell order. The guy at $12k, who was the lowest, now undercuts him to $10k.
The other buyers see the sellers undercutting and think that if these people want out, why am I buying in. The $8k guy pulls his offer, and so do the $7k, $6k and $5k guys. The highest offer is now $4k.
The sellers panic further and the $14k guy undercuts the $10k guy and puts up a $9k sell. The $15k, 17k and 11k guys all see this flurry of panic and now a storm undercutting is triggered, to $8k, $7k, and $6k. The $8k order pulls his again and goes down to $5k.
The price on the buy and sell orders has moved around a ton, but no sales have actually happened yet. Technically, BTC is still "worth" $11k, and the market cap reflects that. All this horseshit has happened, and it only happened in 10 seconds, but the price hasn't moved yet.
The $27k guy wakes up and checks his phone. He had a $27k offer just incase the price moved also, and he also only has a tiny infinitesimal fraction of a BTC. Well, he decides "he's out" and fills $1 worth of the part of the $4k guys buy offer.
The latest price information is now updated, and BTC fell from $11k to $4k price per BTC with the movement of a single dollar.
This is exaggerated example, but this is what moves price. Not money in vs money out. The ONLY THING that moves price is perception.
OPINION FLOW AND NOT MONEY FLOW
Now the above example only happens if everyone simultaneously believe the same thing... this the asset they are holding is a steaming turd. What happens in reality is there's no black and white, it's shades of gray. It's flow in vs flow out. But again, not flow MONEY, but rather OPINIONS.
If 66% of the holders of something all of a sudden unanimously decide that their asset is overvalued, then they panic sell. Even if 33% of the people decide they are going to buy up as much as these panic sellers sell, if the panic is strong enough, and they are slitting eachother's throat to sell, then the buyers just happily sit and let them do that, and time their buys in. Very little money has to actually change hands in order for this price to crash, all that matters is the FLOW OF OPINION has to be swift and violent, and in majority. The sellers will leapfrog eachother on the way down, faster than the buyers scoop up their sales, and the net result is a crashed price.
Note, this happens both ways... fear, uncertainty and doubt (FUD) as well as overhyped FOMO (Fear of missing out).
So now what happens?
Time goes by and all holders opinions of their asset hasn't changed. They still think it's worth $11k and they got great deals scooping up what these sellers were selling. The weak hands have left the market and have been replaced with holders. Overall, now a higher percentage of holders believe in the product they are holding and are unwilling to sell for the panic prices of the last week. Panic sellers were also replaced by new money, people who have wanted in for a while and are now in on their perceived ground floor.
Also, people who bought BTC at $1 ten years ago and have been looking for an exit to cash profits have now been replaced by either long term holders, or by these new people who are thrilled to have finally entered, and they are looking to hold long.
So what happens on pullbacks? The number of people waiting to jump off the ship has decreased. The new ground floor is established. Are we done? Who knows, this could go on for another year, but what matters is that people who want off are getting off and people that want on are getting on.
People who have panic sold and never believed in this in the firstplace... people who have wanted out for 10 years... they have been replaced by people who are now getting in on THEIR GROUND FLOOR, and are going to be holding long. The market is suddenly increasingly more stable today than it was yesterday, even though prices are down.
This is a good thing. This is why crypto keeps bouncing back from pullbacks and reaches new higher ceilings and floors each time. Old money who wanted out, and new panic holders, they are gone. They are replaced with adopters, holders, believers in this technology. These people aren't selling anytime soon, because they believe that this thing is going to revolutionize the world. Every crash brings more of these people in, and removes more panic sellers out.
Moving forward
Now news releases start coming out about how stock ETFs are being created, NASDAQ index funds, bank support, government support. Companies are using this tech, and companies who use blockchain for transportation are putting non-blockchain companies out of business.
The people on the outside looking-in feel they are missing out. They now start coming in and buying. They start overpricing eachother on their buy orders, and eventually it gets close enough to a sell order that someone decides they are just going to meet the sell price. The sale goes through.
Sellers (HODLERs) see this action, and they start pulling sell orders off the table almost as fast as they fill. Sure some trades go through, and incoming money is driving the price up as market orders are filled. But what's also happening is people are seeing this flurry of volume, and sellers are pulling sell orders and placing them higher.
Junk coins and pump and dump scam coins are dying by the millions. In their ashes, good solid technology projects whose coins have fundamental economic reasons for growth, these are rising. Corporate partnerships continue forming. The real world continues to create actual use cases. Companies start storing more and more corporate information on blockchain. Public companies use blockchain to store scientific research (See Canadian Research Council announcements), and blockchain acts as a Library of Alexandria. People can travel out of country without any monetary exchange, using their chosen cryptocurrency to buy the things they need abroad. The world is slowly actually USING this technology.
Money is coming in, but more importantly, OPINION IS CHANGING. Literally nothing could have happened in terms of fundamentals, partnerships, etc... this can all be driven entirely emotional, so long as it's wide-spread and strong. Infact, the market could THEORETICALLY rebound in this way from $4000/BTC to $1 MILLION PER BITCOIN by the sale of ONE PENNY. $4000 sound low? Does that number make you uncomfortable? We may go that low. We may not. If we do, I'm not panicking and selling, I'm buying more.
SO WHAT HAS HAPPENED IN THE LAST FEW MONTHS? and where are we going?
A lot of new money has come in from Nov-Jan, and they don't really know what they are investing in. Sure some of them have done great research and are smart investors but most people aren't and isntead they are buying Symbols and Names and trading on speculation. They are treating their favorite coins like a sports team, and will follow them irrationally off a cliff.
These new people came in and invested in cryptocurrency because their OPINION was heavily influenced in Nov, Dec, Jan, from media. They saw this money making machine called crypto. They were willing to pay huge, ride the wave up, keep buying, etc. They were "ground floor adopters" and were going to get rich.
They outnumber the old money by A LOT. Their OPINION MATTERS. It matters the most.
To keep this in perspective, they are also a VAST MINORITY of "new money" that will enter the game in the next decade. This cycle will continue over and over and over.
Their opinion rose nearly unbounded and price rose accordingly. Market cap rose from 10B to 750B, and it could have been VERY LITTLE actual money that did this. How much did it need to be though? Literally ONE PENNY, theoretically. All that matters in moving price is MOMENTUM OF OPINION. I believe it has been estimated that as low as 6B USD was responsible for the bull rush.
These people then started hearing "Bubble", "Scam", Fake news about governments banning. They don't understand how technology wins, always. Crypto is beyond government control. If they could have stopped Bitcoin they would have done it already.
WHO IS DRIVING ALL THIS?
Most investment opportunities go first to "accredited investors". You need to have multimillions in order to get in on the ground floor for most stock IPOs, and we're seeing that start to happen with coin ICOs. Bitcoin was a joke for the first few years, while lunatics picked it up. At this point, it was really too late to get in "early", and who would have wanted to anyways, it was all still a joke. So Wallstreet, banks, governments have generally watched on the sidelines as average Joes who were crazy enough to be early adopters and toss $100 on fake internet money slowly became millionaires.
Not only that, but the idea of blockchain started to become understood. The power and value in it became understood. Not only as a way to track "monetary value" but for many other applications as well. Platforms were created, business uses brainstormed, products started being made. This thing started taking off, and wasn't a joke anymore. But regardless, big money wasn't in on the ground floor. They have stakeholders opinions to think of, and what do they say to investors when they lose all their money on magic internet points?
But they have woken up now. This thing has "popped" many times now and keeps recovering. This thing won't die. could they have been wrong all along? If they want in, how do they get in? They are no dummies, they have been controlling the world their whole lives? Look at the media experiment that Trump is doing? He is testing just how we work... you can do literally anything and we remember it for like 30 seconds, until the next news story comes out. We change opinions very easily. We are swayed very easily. We are their puppets. Media controls the world. They know their way in.
They have ONE WEAPON against cryptocurrency.
YOUR OPINION OF IT.
And they know it.
Media.
That's why FUD is so powerful and needs to be respected. It's why we need to read more than titles on news articles. We need to question what we read, whether it's good news or bad news. We need to think about "what are the motives of the person saying this to me". Does the government have a conflict of interest when they state that crypto is gambling? Do they have skin in the game?
What about wall street? Does WEISS ratings possibly have incentive to come out with poor ratings? Do banks have incentive to lock accounts in order to "protect" customers from "unsafe investments" when their entire business model revolves around holding as much of your money as possible and making money off it? Do you think banks have any super secret hidden interest in preventing you from storing your money elsewhere? I'm not sure, maybe you can critically think about that.
Just understand that this goes both ways. When crypto is booming and Fox news is showing people how to buy $4 ripple on prime time, you may want to start putting in some stop loss orders. When the suicide hotline is stickied at the top of /cryptocurrency and everyone is panic selling, you may want to start picking up some firesale deals.
So, the question is this... Is crypto undervalued or overvalued at it's price today? Where is the price going long term? I'm not talking about it's use case, I'm talking about in the court of public opinion, where is THAT going? Because THAT is what is going to drive price in the future.
Without a crystal ball, this is of course impossible to know. Do your own research and form your own opinion. It could very well be that the technology having a use-case will in and of itself drive opinion, and thus price. But make sure you understand that it's not the technology itself, it's not the value of the business itself, it's not the use case itself that will drive price, it is the publics OPINION of that thing which drives price. They are intertwined, but they are NOT the same thing.
TLDR: VERY VERY little money has to move around in order to swing prices drastically, up or down. Money in and out doesn't drive price, OPINION does. How do you let the news you read impact your opinion?How are you being played (on both sides, shilling and FUD).
Something is only worth what people think it's worth. Often that's based on reality, value, business, money, but often it's entirely emotional.
Structure your portfolio in a balance, intelligent way, using risk methodology.. Invest money you are willing to lose. Support legitimate technology and teams who are actively driving their product to completion, coding, and marketing. Stop trying to make money overnight in pump and dump scams, or pyramid schemes.
Every day, take one coin, do a deep dive on it, learn it inside and out. Look into their team and their past. Do that every day for a year, and you just learned 365 coins inside and out. Ask yourself the following key questions:
Have those members consistently jumped ship on previous projects? Is that where you want to invest in? Is their team capable of executing on their vision? Are they trying to solve world hunger, and their team is a few 16 year olds in a garage? How active is their github? Are they adding chunks of code regularly, or is a ghost town? Are they marketing their product at all? Or is marketing the only thing they are doing?
What are the economics of their coin itself? Is it required to be used to gain access to their technology? Are there burns? How premined is it, and what portion do the founders hold?
What about their vision? Are they trying to solve a problem that needs to be solved? What are the economics of that problem and how much money does the solution potentially save clients?
These are all questions you should be asking when you give your money to someone else. We're a lot more stable than we were - a correction was bound to happen. Too much early money wanted to cash in profits. These people have been replaced by new money who is holding on their own ground floor. The whole industry in general is still in very early stages. Rest assured that anyone reading this is still very much an early adopter. Just make sure you are investing in actual technology, and supporting capable teams, and not buying air. Buy the Googles and Amazons of Crypto, not the pets.com or flooz.com of cryptos.
Happy investing everyone.
/EDIT: some have asked to donate some crypto. Do me a favour instead, sub to my YouTube channel (link at top) watch my videos how to get started properly, and plant your own trees and establish food sovereignty for your family and your community, and help save the bees, save our topsoil, and sequester carbon to reverse global warming. My goal is to get a gardener back into every home on the planet. THAT is how we heal this world.
submitted by Suuperdad to CryptoCurrency [link] [comments]

IamA High School drop out that had a million dollar bet with his parents that if I made a million before I'm 18. I did not have to go to college! I won! AMA!

Hello Reddit!
You may have seen me at the top of /technology the other day and I got a lot of messages telling me to do an IAMA about this article on CNBC so here I am!
So I made a bet with my parents that if I turned 18 and was a millionaire, my parents wouldn't force me to go to college. I’m proud to say I won that bet! Thanks to some clever investments, making money from projects, and as is the case with everyone who has any kind of success (or even failure) a little bit of luck.
Here’s the story of how it happened:
When I was 12 years old in May 2011, my older brother showed me this technology that I fell in love with and found fascinating. The technology was called Bitcoin.
At that stage in life I had a $1000 saved up, solely a gift from my Grandma to use for my scholarship fund. It did not go to my scholarship fund. I asked my brother to help me put it into Bitcoin at $12 because I knew it would be huge in someway. At that point I had about a 100 bitcoins.
I continued to do ‘day trading’ buying low and selling high over the coming years as well and reinvesting the money.
Fast forward to when I was 14 in high school I was not enjoying school. I was in a small town in Idaho living on a llama farm. So the quality of the school system, was let’s say, not the highest grade. I found the classes to be boring, valuable to some people, but at least for me boring and teaching me in a way that didn’t make sense to me. Lessons that did not seem applicable in my life.
My teachers would constantly criticize people in the classroom. Especially me.
One teacher told me to drop out and work at McDonald's because that was all I would amount to for the rest of my life.
Another would force us to read other student’s grades out to the rest of the class to shame them for failing.
Another roasted me (me in particular) for the full hour of class. No teaching. It was literally the “Roast of Erik Finman”. Which now seems kind of funny actually but still very bad to do.
I went to a summer program to prepare me for the next year and found the best teacher ever in my life that changed my life who was from the UK. I got an A+ in advanced physics when I got a C- in basic physics the previous year.
With that knowledge. Since I didn’t have access to good teachers in my small town in Idaho. I wanted to fix it. So I learned how to code and created an educational website that would allow you to connect with Tutors/Teachers/Mentors online over video chat to teach you any subject you wanted to learn. You could search for Spanish. And find someone to teach you from Ecuador. You could type in programming and you’d find a CS college student that is trying to pay tuition by doing this on the side. Or a retired expert who is a veteran in his field that just wants to impart his knowledge onto others.
It became very popular in the local community! I told my teachers about it, but they did not like it because it felt like competition. Maybe they thought they might have to do better?
At this point I was 15 and this got some initial traction and I was using it to teach myself.
I asked my parents to let me drop out of High School to focus on this because I was miserable in school.
They agreed and were supportive, but they made a bet with me that I can drop out of High School, but I have to go to college if I don’t make a million dollars by the age 18.
I agreed and I dropped out of High School to work on this. A little bit after I dropped out of High School, and I had traction with my project. Bitcoin was shooting up! It was going big! $800! $900! $1000!!!!
So I sold a lot of my Bitcoins which resulted in me gaining a $100,000.
I used that money to put into my business so I could hire more professional programmers and I moved to Silicon Valley.
I even caught the attention of Alexis Ohanian of Reddit because his book at the time Without Their Permission is what got me started. He helped me in many ways!
Fast forward to early 2015. Eventually I found a buyer for the companies code & technology in January 2015. The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin. I took the lower cash value bitcoin deal because I believed it was the next big thing and an official buyout would’ve been very difficult for someone under 18 and it was good tax planning to use Bitcoin. Also continuing to do day trading on a daily basis.
I used some of that money in the coming years to travel the world. Going to London, Dubai, Australia, and more!
I used that to start a VR company using crowdfunding and that did well. I shipped all those out. It was incredible!
Now I’m doing a satellite as part of a NASA award which is launching in November out of New Zealand! I'll probably do another post about this soon because it's so cool.
Elon Musk has always been hero of mine. He's such a talented guy changing the world with Tesla and SpaceX. I'm a great admirer of his and respect him immensely. He's the closest we have yet to a real life Iron Man. But who knows maybe I'll beat him one day haha ;-) After all we stand on the shoulders of giants right? haha that's a big goal though and I say it as such.
It’s been a fantastic few years! I’ve used that money to learn how to do a business, invest, and learn about the world! I didn’t do investing all the time and I used that money to build things that I thought were important! I haven’t done everything perfectly, no one has! I’ve made some humbling mistakes, but had lots of exciting successes! I’ve really launched my career in exciting ways and have met mentors that help me and advise me along the whole way! Which I’m so thankful for!
I’ve learned so much outside the education system and have been so much happier. Although I’m unique, I’ve met many many people that weren’t satisfied and unhappy — ranging from students with the lowest and highest GPAs. My GPA was a 2.1 in school!
And I’m happy I’m not going to College! College wasn’t for me but it was the ‘life path’ you are supposed to go on and I did not want to go nor felt it would’ve helped me too much in life — especially the $250,000 in debt! Or $249,000 with my scholarship fund if I had not used it on Bitcoin and my projects ;-)
I really believe the education system needs to be reformed and I think technology is the way to do that. I think it’s wonderful how society allows you to be a ‘student’ so that you can learn for many years and that’s your full time job. The infrastructure would just ideally be much better so you could do that without being in sometimes a bad environment and crippling debt.
I can say today that I own 403 bitcoins which is currently valued at $1,092,678.08 with the price per Bitcoin being at $2,711.36 plus some other money invested in other things. Can’t have all your eggs in one basket! So I won the bet!
If you have any questions let me know! And if you want any advice on cryptocurrency or your own educational route, or anything else let me know!
Also on reddit! People have made Pepe memes of me! I feel like I've finally made it: http://imgur.com/gallery/06dWK
If you want to keep updated with everything I’m doing! Follow me on twitter!
Proof:
Proof of the bet: http://www.cbsnews.com/news/erik-finman-botangle-after-100k-bitcoin-score-15-year-old-creates-startup/
Travel proof: http://imgur.com/a/kvlzR
Proof: I went through rigorous proof verification and fact checking with CNBC as you can see with this article. I keep my Bitcoin is super secure places spread out across multiple wallets across multiple machines. I'm so paranoid after all this media attention someone is going to steal it all! haha
Proof of growing up on the llama farm: http://imgur.com/gallery/6scF5 ---- ASK me about the time the llama came into my house!
Proof of the 100k initially made: http://mashable.com/2014/06/10/botangle/
Proof it's really me: http://imgur.com/a/zc3eu
Edit: Wow! Thanks for the gold guys!
Edit: Was on for the first few hours of the AMA and had a meeting to go to and I just came back now to see all these great questions! Questions I all have answers to! I will respond to them tomorrow as it's midnight here now.
Edit: That's it for me! A lot of great questions and a lot of great feedback.
submitted by erikfinman to IAmA [link] [comments]

Immediate Edge Review 2020 - Does It Work or Is It A Scam?

Promoted as an elite club held for audacious new Bitcoin Millionaires, the Immediate Edge SCAM exchanging stage is actually a replicated make easy money crypto plot intended to execute losing exchanges purposefully. There is additionally some discussion about a signs application which brags a 99.4% level exactness (as such they guarantee you can't lose). The dishonest offshoot systems and obscure characters behind Immediate Edge have basically ripped off a current deals video which starts off with Jake Tapper from CNN saying "no banks, no expenses, no swelling" and connected it to a reused form of the Bitcoin Revolution trick. It's fascinating to take note of that the phony CNN and Forbes logos are utilized again so as to make this phony crypto robot look bona fide or certified, when in reality the specific inverse is reality.
Immediate Edge Complaints: We got grievances after a portion of our individuals attempted to money out their cash however were continually deferred and denied by an illicit seaward specialist named United Markets Capital with an enrolled place of work in Sofia Bulgaria. At the point when we attempted to intercede for the benefit of our individuals we were totally disregarded, however that should have been normal. So if for some obscure explanation you feel slanted to hazard your cash and contribute through the Immediate Edge application, we energetically suggest you read our Immediate Edge Review since we totally uncovered this swindling programming and the law breakers behind it.
Underneath you will see the real enlistment are for the Immediate Edge trick application. Notice the feature which peruses "Bitcoin is making individuals rich, and you can turn into the following mogul."
submitted by immediateedgeapps to u/immediateedgeapps [link] [comments]

Threshold Signature Explained— Bringing Exciting Applications with TSS

Threshold Signature Explained— Bringing Exciting Applications with TSS
— A deep dive into threshold signature without mathematics by ARPA’s cryptographer Dr. Alex Su

https://preview.redd.it/cp0wib2mk0q41.png?width=757&format=png&auto=webp&s=d42056f42fb16041bc512f10f10fed56a16dc279
Threshold signature is a distributed multi-party signature protocol that includes distributed key generation, signature, and verification algorithms.
In recent years, with the rapid development of blockchain technology, signature algorithms have gained widespread attention in both academic research and real-world applications. Its properties like security, practicability, scalability, and decentralization of signature are pored through.
Due to the fact that blockchain and signature are closely connected, the development of signature algorithms and the introduction of new signature paradigms will directly affect the characteristics and efficiency of blockchain networks.
In addition, institutional and personal account key management requirements stimulated by distributed ledgers have also spawned many wallet applications, and this change has also affected traditional enterprises. No matter in the blockchain or traditional financial institutions, the threshold signature scheme can bring security and privacy improvement in various scenarios. As an emerging technology, threshold signatures are still under academic research and discussions, among which there are unverified security risks and practical problems.
This article will start from the technical rationale and discuss about cryptography and blockchain. Then we will compare multi-party computation and threshold signature before discussing the pros and cons of different paradigms of signature. In the end, there will be a list of use cases of threshold signature. So that, the reader may quickly learn about the threshold signature.
I. Cryptography in Daily Life
Before introducing threshold signatures, let’s get a general understanding of cryptography. How does cryptography protect digital information? How to create an identity in the digital world? At the very beginning, people want secure storage and transmission. After one creates a key, he can use symmetric encryption to store secrets. If two people have the same key, they can achieve secure transmission between them. Like, the king encrypts a command and the general decrypts it with the corresponding key.
But when two people do not have a safe channel to use, how can they create a shared key? So, the key exchange protocol came into being. Analogously, if the king issues an order to all the people in the digital world, how can everyone proves that the sentence originated from the king? As such, the digital signature protocol was invented. Both protocols are based on public key cryptography, or asymmetric cryptographic algorithms.


“Tiger Rune” is a troop deployment tool used by ancient emperor’s, made of bronze or gold tokens in the shape of a tiger, split in half, half of which is given to the general and the other half is saved by the emperor. Only when two tiger amulets are combined and used at the same time, will the amulet holder get the right to dispatch troops.
Symmetric and asymmetric encryption constitute the main components of modern cryptography. They both have three fixed parts: key generation, encryption, and decryption. Here, we focus on digital signature protocols. The key generation process generates a pair of associated keys: the public key and the private key. The public key is open to everyone, and the private key represents the identity and is only revealed to the owner. Whoever owns the private key has the identity represented by the key. The encryption algorithm, or signature algorithm, takes the private key as input and generate a signature on a piece of information. The decryption algorithm, or signature verification algorithm, uses public keys to verify the validity of the signature and the correctness of the information.
II. Signature in the Blockchain
Looking back on blockchain, it uses consensus algorithm to construct distributed books, and signature provides identity information for blockchain. All the transaction information on the blockchain is identified by the signature of the transaction initiator. The blockchain can verify the signature according to specific rules to check the transaction validity, all thanks to the immutability and verifiability of the signature.
For cryptography, the blockchain is more than using signature protocol, or that the consensus algorithm based on Proof-of-Work uses a hash function. Blockchain builds an infrastructure layer of consensus and transaction through. On top of that, the novel cryptographic protocols such as secure multi-party computation, zero-knowledge proof, homomorphic encryption thrives. For example, secure multi-party computation, which is naturally adapted to distributed networks, can build secure data transfer and machine learning platforms on the blockchain. The special nature of zero-knowledge proof provides feasibility for verifiable anonymous transactions. The combination of these cutting-edge cryptographic protocols and blockchain technology will drive the development of the digital world in the next decade, leading to secure data sharing, privacy protection, or more applications now unimaginable.
III. Secure Multi-party Computation and Threshold Signature
After introducing how digital signature protocol affects our lives, and how to help the blockchain build identities and record transactions, we will mention secure multi-party computation (MPC), from where we can see how threshold signatures achieve decentralization. For more about MPC, please refer to our previous posts which detailed the technical background and application scenarios.
MPC, by definition, is a secure computation that several participants jointly execute. Security here means that, in one computation, all participants provide their own private input, and can obtain results from the calculation. It is not possible to get any private information entered by other parties. In 1982, when Prof. Yao proposed the concept of MPC, he gave an example called the “Millionaires Problem” — two millionaires who want to know who is richer than the other without telling the true amount of assets. Specifically, the secure multiparty computation would care about the following properties:
  • Privacy: Any participant cannot obtain any private input of other participants, except for information that can be inferred from the computation results.
  • Correctness and verifiability: The computation should ensure correct execution, and the legitimacy and correctness of this process should be verifiable by participants or third parties.
  • Fairness or robustness: All parties involved in the calculation, if not agreed in advance, should be able to obtain the computation results at the same time or cannot obtain the results.
Supposing we use secure multi-party computation to make a digital signature in a general sense, we will proceed as follows:
  • Key generation phase: all future participants will be involved together to do two things: 1) each involved party generates a secret private key; 2) The public key is calculated according to the sequence of private keys.
  • Signature phase: Participants joining in a certain signature use their own private keys as private inputs, and the information to be signed as a public input to perform a joint signature operation to obtain a signature. In this process, the privacy of secure multi-party computing ensures the security of private keys. The correctness and robustness guarantee the unforgeability of the signature and everyone can all get signatures.
  • Verification phase: Use the public key corresponding to the transaction to verify the signature as traditional algorithm. There is no “secret input” during the verification, this means that the verification can be performed without multi-party computation, which will become an advantage of multi-party computation type distributed signature.
The signature protocol constructed on the idea of ​​secure multiparty computing is the threshold signature. It should be noted that we have omitted some details, because secure multiparty computing is actually a collective name for a type of cryptographic protocol. For different security assumptions and threshold settings, there are different construction methods. Therefore, the threshold signatures of different settings will also have distinctive properties, this article will not explain each setting, but the comparative result with other signature schemes will be introduced in the next section.
IV. Single Signature, Multi-Signature and Threshold Signature
Besides the threshold signature, what other methods can we choose?
Bitcoin at the beginning, uses single signature which allocates each account with one private key. The message signed by this key is considered legitimate. Later, in order to avoid single point of failure, or introduce account management by multiple people, Bitcoin provides a multi-signature function. Multi-signature can be simply understood as each account owner signs successively and post all signatures to the chain. Then signatures are verified in order on the chain. When certain conditions are met, the transaction is legitimate. This method achieves a multiple private keys control purpose.
So, what’s the difference between multi-signature and threshold signature?
Several constraints of multi-signature are:
  1. The access structure is not flexible. If an account’s access structure is given, that is, which private keys can complete a legal signature, this structure cannot be adjusted at a later stage. For example, a participant withdraws, or a new involved party needs to change the access structure. If you must change, you need to complete the initial setup process again, which will change the public key and account address as well.
  2. Less efficiency. The first is that the verification on chain consumes power of all nodes, and therefore requires a processing fee. The verification of multiple signatures is equivalent to multiple single signatures. The second is performance. The verification obviously takes more time.
  3. Requirements of smart contract support and algorithm adaptation that varies from chain to chain. Because multi-sig is not naturally supported. Due to the possible vulnerabilities in smart contracts, this support is considered risky.
  4. No anonymity, this is not able to be trivially called disadvantage or advantage, because anonymity is required for specific conditions. Anonymity here means that multi-signature directly exposes all participating signers of the transaction.
Correspondingly, the threshold signature has the following features:
  1. The access structure is flexible. Through an additional multi-party computation, the existing private key sequence can be expanded to assign private keys to new participants. This process will not expose the old and newly generated private key, nor will it change the public key and account address.
  2. It provides more efficiency. For the chain, the signature generated by the threshold signature is not different from a single signature, which means the following improvements : a) The verification is the same as the single signature, and needs no additional fee; b ) the information of the signer is invisible, because for other nodes, the information is decrypted with the same public key; c) No smart contract on chain is needed to provide additional support.
In addition to the above discussion, there is a distributed signature scheme supported by Shamir secret sharing. Secret sharing algorithm has a long history which is used to slice information storage and perform error correction information. From the underlying algorithm of secure computation to the error correction of the disc. This technology has always played an important role, but the main problem is that when used in a signature protocol, Shamir secret sharing needs to recover the master private key.
As for multiple signatures or threshold signature, the master private key has never been reconstructed, even if it is in memory or cache. this short-term reconstruction is not tolerable for vital accounts.
V. Limitations
Just like other secure multi-party computation protocols, the introduction of other participants makes security model different with traditional point-to-point encrypted transmission. The problem of conspiracy and malicious participants were not taken into account in algorithms before. The behavior of physical entities cannot be restricted, and perpetrators are introduced into participating groups.
Therefore, multi-party cryptographic protocols cannot obtain the security strength as before. Effort is needed to develop threshold signature applications, integrate existing infrastructure, and test the true strength of threshold signature scheme.
VI. Scenarios
1. Key Management
The use of threshold signature in key management system can achieve a more flexible administration, such as ARPA’s enterprise key management API. One can use the access structure to design authorization pattern for users with different priorities. In addition, for the entry of new entities, the threshold signature can quickly refresh the key. This operation can also be performed periodically to level up the difficulty of hacking multiple private keys at the same time. Finally, for the verifier, the threshold signature is not different from the traditional signature, so it is compatible with old equipments and reduces the update cost. ARPA enterprise key management modules already support Elliptic Curve Digital Signature Scheme secp256k1 and ed25519 parameters. In the future, it will be compatible with more parameters.

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2. Crypto Wallet
Wallets based on threshold signature are more secure because the private key doesn’t need to be rebuilt. Also, without all signatures posted publicly, anonymity can be achieved. Compared to the multi-signature, threshold signature needs less transaction fees. Similar to key management applications, the administration of digital asset accounts can also be more flexible. Furthermore, threshold signature wallet can support various blockchains that do not natively support multi-signature, which reduces the risk of smart contracts bugs.

Conclusion

This article describes why people need the threshold signature, and what inspiring properties it may bring. One can see that threshold signature has higher security, more flexible control, more efficient verification process. In fact, different signature technologies have different application scenarios, such as aggregate signatures not mentioned in the article, and BLS-based multi-signature. At the same time, readers are also welcomed to read more about secure multi-party computation. Secure computation is the holy grail of cryptographic protocols. It can accomplish much more than the application of threshold signatures. In the near future, secure computation will solve more specific application questions in the digital world.

About Author

Dr. Alex Su works for ARPA as the cryptography researcher. He got his Bachelor’s degree in Electronic Engineering and Ph.D. in Cryptography from Tsinghua University. Dr. Su’s research interests include multi-party computation and post-quantum cryptography implementation and acceleration.

About ARPA

ARPA is committed to providing secure data transfer solutions based on cryptographic operations for businesses and individuals.
The ARPA secure multi-party computing network can be used as a protocol layer to implement privacy computing capabilities for public chains, and it enables developers to build efficient, secure, and data-protected business applications on private smart contracts. Enterprise and personal data can, therefore, be analyzed securely on the ARPA computing network without fear of exposing the data to any third party.
ARPA’s multi-party computing technology supports secure data markets, precision marketing, credit score calculations, and even the safe realization of personal data.
ARPA’s core team is international, with PhDs in cryptography from Tsinghua University, experienced systems engineers from Google, Uber, Amazon, Huawei and Mitsubishi, blockchain experts from the University of Tokyo, AIG, and the World Bank. We also have hired data scientists from CircleUp, as well as financial and data professionals from Fosun and Fidelity Investments.
For more information about ARPA, or to join our team, please contact us at [email protected].
Learn about ARPA’s recent official news:
Telegram (English): https://t.me/arpa_community
Telegram (Việt Nam): https://t.me/ARPAVietnam
Telegram (Russian): https://t.me/arpa_community_ru
Telegram (Indonesian): https://t.me/Arpa_Indonesia
Telegram (Thai): https://t.me/Arpa_Thai
Telegram (Philippines):https://t.me/ARPA_Philippines
Telegram (Turkish): https://t.me/Arpa_Turkey
Korean Chats: https://open.kakao.com/o/giExbhmb (Kakao) & https://t.me/arpakoreanofficial (Telegram, new)
Medium: https://medium.com/@arpa
Twitter: u/arpaofficial
Reddit: https://www.reddit.com/arpachain/
Facebook: https://www.facebook.com/ARPA-317434982266680/54
submitted by arpaofficial to u/arpaofficial [link] [comments]

The BEST trading app I have ever used!!!

The BEST trading app I have ever used!!!
Trading software is a dime a dozen. If you’ve been trading online for a while, not only do you know cryptocurrency, but you’ve probably have heard of Explus, which specialise in bitcoin trading.
Most serious traders are generally open to trading quite a few things, so it’s only natural that they’d trade in the blockchain industry, if they have any.
So, how do this platform works?
This platform isn’t difficult to use, as it uses a trading robot to handle all of the manual exchanges. Having to do everything yourself can be a bit laborious, so having an option to take care of the necessary legwork is generally viewed as favourable, allowing the user to focus more on making big profits buying and selling their bitcoin.
The application software is basically designed for people to easily make great money through trading bitcoin when it was created in 2018. It is a project being joint ventured by both the UAE royal family members and the European Rothschild Family, which its operations are overseen by the national financial authority of Saint Vincent and the Grenadines - Commonwealth of Nations. Most of this is due to the fact that some users see about one thousand dollars in daily profit.
Let’s face it, there are still more than a few people who aren’t sure of bitcoin, much less trading it. It is still relatively new and too volatile for some, as well as its unregulated nature can turn people off. It is for this reason why I recommend Explus as my trusted bitcoin trading software and explain some of its benefits of using Explus.
1. It is easy to use whether you are a novice or experienced bitcoin trader.
https://preview.redd.it/yjfgi5isxyo41.jpg?width=238&format=pjpg&auto=webp&s=9db19bcd15daae322c2401f108c0b261d9f66820
There are 5 trading options, i.e. trend and digit options for novice traders; boundary, aggregated and condition options for more experienced traders.
2. There is a free trading simulation for you to invest like a millionaire!
https://preview.redd.it/jjtoanquxyo41.jpg?width=243&format=pjpg&auto=webp&s=09f44a701c7a3f25349a70f299934ade7fe4492d
The starting capital for the simulation is 1,000,000E, which is equivalent to USD 1,000,000. It allows you to practice your trading skills and to see your potential profit on a larger scale!
3. The startup trading capital is as low as USD 30.
https://preview.redd.it/dteaiedwxyo41.jpg?width=246&format=pjpg&auto=webp&s=97d2dd0bf650411c269f8f81ab28c3c4f85cb20c
You can top-up your account with a range of USD 30-7,000 per deposit.
4. You can invite your friends and families to join as partners with your personal link to enjoy affiliation benefits!
https://preview.redd.it/hzk6bizxxyo41.jpg?width=261&format=pjpg&auto=webp&s=fd8b094d2f81b07f3364633b7af61343002e9e48
For Lv1 traders, you can enjoy the profits from 1st generation partners. To enjoy the benefit of 2nd and 3rd generation partners, you can either upgrade though frequent trading or through a USD 1,000 deposit, which will be returned when the partner status is deactivated.
With this being said, every benefits are laid out as references for your decision.
Start investing now!
submitted by B_Security923 to u/B_Security923 [link] [comments]

Where are the BTC solutions? All promises and nothing but a huge black hole sucking peoples capital.

Bitcoin or ALTS ? The eternal question, it is all a diversion Jack, truth be told. A tone of investors lost more than made investing and holding these digital fads, it is now a proven fake industry, a cesspool of scams. It was a huge transfer of capital, from unaware investors to shark traders and cryptopirates. Small trendy millennials believed they could become millionaires investing little and becoming multimillionaire traders next day, it all fell and still falling apart to this day!
We have invested in several ALTS and BTC as well, we made and lost money in the same measure, it was a zero sum game, however for the time wasted in fact we lost more, never the less we are lucky! The majority lost BIG ! BTC lovers still brag that BTC is here to solve problems, without realising that the BTC games in fact has destroyed millions of small investors that believed on its utility, poor Joes got their capital sucked out by a small group or crypto PIRATES and shark traders!
Any dissent opinion about cryptos or BTC is viciously oppose by this small percentage of 'smart or lucky' individuals that made money from this fake market.
Which solutions BTC came to solve? So far there is NO real applications for it... and all the shitty ALTs follow the same recipe of fake promises to deceive its investors.
· They said BTC to be decentralised - 90% is own by only 5% of all its holders.
· BTC said to protect its investors anonymity - Today you even need to pay taxes on it, all your transactions can be traced.
· BTC said to be way easier than regular payment methods - Until today I haven't seen how, a wireless touch card is superior and more secured.
· Faster - Until today, credit card company can provide times over the transactions that BTC can manage.
· Cheaper way to buy things - CCs is many times cheaper than BTC transactions.
· Expensive to store - Exchanges charge HUGE percentages and costs to transfer, buy or store your imaginary tokens, more than allocated Gold.
· BTC it is here so solve our deeply flawed monetary system... the infinity printing of money being the biggest problem... right... then you discover that in reality BTC is not a finite number of tokens, far from the truth. BTC can be forked into infinity new tokens, basically just like Zimbabwe money, it can be duplicated at will.
· You can lose everything - If you are unlucky to lose your password for your hard-wallet or software wallet, you will lose everything, there is NO call center or support team to help ya, once you lost it is GONE!
These are just some promises that this imaginary system has propagated. It seems that this whole industry was created to suck money from investors pure and simple, I haven't seen ANYTHING that shows me the contrary. Block chain is a system that can be replicated and built for any application, and that is exactly what will come out of this, big corporations and the government will use the technology to track every single move we make, and cryptocurrencies will be history.
submitted by HyperBrain to Bitcoin [link] [comments]

r/Ethereum - I wrote this to explain Ethereum in depth to newbies. Please check for accuracy!

Hello ethereum - I'm currently in Singapore exploring all of the cool blockchain tech that's going on here. I'm also writing a blog that aims to explain blockchain technology simply to anyone whose interested. www.cryptoambit.com
If you guys could spot check my Ethereum post for accuracy, I'd appreciate it. If you like it, would also appreciate some subscribers! Thanks
By now, most people know Ethereum as the second most valuable cryptocurrency, currently valued at over $60 billion dollars. Well, it turns out that Ethereum isn't actually a cryptocurrency - it's a software platform that let's programmers build applications on top of blockchain technology. Within the ethereum platform, is a cryptocurrency called ether that is used to power applications built on the Ethereum blockchain.
From Bitcoin to Ethereum
Bitcoin uses a global network of computers that maintain a shared ledger called a blockchain that keeps track of who owns bitcoin. Once blockchain technology was introduced to the world, people realized that blockchains could be used to keep track of anything of value. In 2013, a 19 year old named Vitalik Buterin introduced the Ethereum white paper, which proposed an open source platform that would let programmers build blockchain applications that could facilitate the exchange of money, content, property, shares or anything of value. Much like with Satoshi Nakamoto's paper, Buterin's was met with widespread excitement from software developers around the world who began building toward the vision Buterin laid out.
Much like Bitcoin, Ethereum isn't owned or controlled by any one person. Unlike Bitcoin, whose creator remains anonymous, Ethereum has a leader in Vitalik Buterin (pictured below). While Buterin doesn't control Ethereum in the way that a CEO does, his word carries tremendous weight in dictating the direction of the project - something that is considered a strength or a weakness, depending on who you ask.
Smart Contracts
The basic function that programs built on Ethereum perform are called smart contracts. Smart contracts are digital agreements that execute automatically based on real world data. An easy way to think of them is an "If-then statement." IF condition A exists, THEN perform function B.
Let's say for example Grandma wants to make sure she never forgets to give Little Billy birthday money each year. She could write a smart contract that says IF it's Little Billy's birthday, THEN pay him $10 from Grandma's account. Once this contract is broadcast to the Ethereum network, it will execute automatically each year on Little Billy's birthday.
Smart contracts have applications far beyond improving the reliability and efficiency of Grandmothers around the world. Another simple application of a smart contract is for rental payments: IF date = 1st of the month, THEN pay landlord rent amount. Processes that currently involve manual interactions between two parties can now be automated and the value can be moved in real time over the blockchain rather than settling days later as with traditional banking.
A Real World Example
Ethereum and smart contracts are a big deal because they have the ability to usher in what's been dubbed the "smart economy" - one in which slow manual processes prone to human error and deceit are replaced with automated processes that are completely transparent and trustworthy. A real world example that typifies the new "smart economy" is a project being run by a French insurance company called AXA.
AXA offers a flight insurance product that pays out a policy holder in the event that a flight is delayed by two hours or more. It currently has a product in trial that will pay out insurance claims using smart contracts and the Ethereum blockchain. The smart contract is simple: IF flight is over two hours late, THEN pay policyholder. The smart contract is connected to a database that monitors flight times. If the database shows that the flight is over two hours late, the smart contract is triggered and the policyholder is paid automatically over the blockchain.
Without the smart contract, the policyholder would have to file a claim and wait for the insurance company's claims department to process it, which could take anywhere from 1 to 2 weeks. With the smart contract, neither the insurance company nor the policyholder has to do anything. This also creates trust between the two parties because there are no grey areas - the customer can review the smart contract prior to purchasing the policy and feel comfortable that he will receive his claim in the event of a delay.
Ethereum vs Ether
As stated in the intro, Ethereum is a platform for building blockchain applications using smart contracts. What you may have just purchased on Coinbase is called Ether, which is the cryptocurrency that fuels the Ethereum network.
Ether functions more like a digital commodity than a digital currency. Just like you need gasoline to fuel your car, you need Ether to run applications on the Ethereum blockchain. In the Grandmother example cited above, Grandma would have to purchase small amounts of Ether to fuel her smart contract that pays Little Billy his birthday money.
The Ethereum blockchain functions in the same way as the Bitcoin blockchain: a network of computers run software that validates transactions through majority consensus. The people running these computers are called miners. Bitcoin miners are compensated for their resources by being paid in Bitcoin. Ethereum miners are compensated in Ether. On Little Billy's birthday, Grandma's ether transaction fee will go to whichever miner adds the block containing Grandma's transaction to the blockchain. That miner will also receive new Ether in the process.
The same supply/demand economics that apply to commodities like oil and gas also apply to Ether. Oil is valuable because it powers many of the things we use in our everyday life - it heats our homes and fuels our engines. The more people and enterprises that rely on Ethereum based applications, the higher the demand will be for Ether which will increase its value. As with all cryptocurrencies, there's plenty of speculation baked into the price - speculation that the demand for Ether will increase in the future. Since Ether is valuable, exchangeable and transferable, certain merchants are also starting to accept it as a currency.
dApps - Decentralized Apps
Applications that run smart contracts on the Ethereum blockchain are called "dApps," or decentralized apps. Just as any app developer can build apps on top of Apple's IOS operating system, developers can build on top of Ethereum's blockchain infrastructure. To the end user of a dApp, it might not look and feel any different than the apps you use today. It's the underlying blockchain infrastructure that make them different.
Since dApps function on top of the blockchain, they can be used to transfer value peer-to-peer. To return to our Grandmother example, there could be a dApp that Granny can download that lets her schedule Little Billy's birthday payments without having to code the smart contract herself. dApps are also completely open sourced so other people can access the code and build on top of them. Someone could take the code to the birthday payment dApp and add the ability for Grandma to add a note that says, "Happy Birthday Billy!" Running dApps on the blockchain also offers added security benefits. Since the transactions are distributed and encrypted across the Ethereum blockchain, there is no central place for a hacker to breach and gain access to all of the world's Grandmother to grandson birthday payment data.
At this point, I'm really beating the GrandmotheLittle Billy example to death because I think it represents a simple illustration for the kinds of applications that can be built on the Ethereum blockchain. In reality, the dApps that are being built are much more complex. Here are a few examples:
Ethereum Tokens
So now that you understand that Ethereum is a network for building decentralized applications that require a cryptocurrency called Ether to run, I'm going to introduce a confusing concept. Many dApps built on Ethereum have their own cryptocurrencies or "tokens." In order to interact with the dApps, customers need to purchase the dApp's native token.
Here's a helpful analogy I came across - when you go to a waterpark, you pay the admission fee and in return, you get a wristband. That wristband gives you the ability to ride the waterslides in the water park. With certain dApps, the token is the wristband, and a user must purchase it to interact with whatever the dApp offers.
Let's take a dApp called Golem as an example. Golem lets people rent out their excess computing power to people who need it - kind of like a computer AirBnb. To cite this article from Laura Shin, if I'm a computer graphics artist that wants to render some kind of computationally intense animation, I can purchase Golem tokens that let me tap into the Golem network to generate my animation. I then pay the people who are renting me their computers with the Golem tokens. The Golem token is a form of smart contract and this transaction is recorded on the Ethereum blockchain.
Since Golem tokens are also a cryptocurrency, they can be traded on the free market. If I'm a speculator who has no intention of using the Golem network to rent computing power, I can still buy the Golem token on an exchange in hopes that it appreciates in value. Like bitcoin, there is a fixed supply of Golem tokens so if the demand for the service increases, so will the value of the token. If I bought Golem at its original price of around 1 penny and held it to today, I would have made 35X my initial investment since Golem tokens currently trade around 35 cents a piece.
ICOs
ICO stands for, "Initial Coin Offering" which is a fundraising mechanism for cryptocurrencies which has exploded in popularity this year - the majority of them are held on the Ethereum network. Similar to a kickstarter campaign, they allow entrepreneurs to raise money for projects by giving investors an early opportunity to purchase the cryptocurrency before the final product has been built. If the project is successful, the value of the cryptocurrency will rise in value and early investors can sell it on the open market for a profit.
ICOs have stirred up a lot of controversy because they represent a risky proposition with zero investor protection. Let's say I wanted to build a casino and to finance it, I gave investors the opportunity to buy chips that can be used at my roulette tables once the casino opened. If you bought $100K in roulette chips from me and I decide that I no longer want to build the casino, you're stuck holding worthless chips. If investors don't do their due diligence, they may end up buying tokens for a project whose creators never intended on building it in he first place - the creators walk away with the money and the investors have no way of recouping their funds.
On the other hand, early investors in projects that go on to be successful have the opportunity to make enormous returns. For example, people who invested $1,000 in the Golem ICO would be sitting on $35,000 at it's current price of $0.35 - if it ever goes to $10, they're all millionaires. Another positive aspect of ICOs is that they let anyone, rich or poor get involved in early stage investing. To invest in a company like Twitter or Facebook pre-IPO (initial public offering), you need to be an accredited investor - this basically means you're already a rich person. With ICOs, all you need is an internet connection and a little bit of money and you have the potential to become wealthy by investing in the right projects.
Far From Perfect
Ethereum has the potential to change the way humans transact with one another but it is still a very young technology and it hasn't been without its problems. While the blockchain architecture underlying the Ethereum network is secure, not all of the applications built on top of it are. Faulty code can and has made applications vulnerable to hacking and malfunctions. Here are two prime examples:
DAO Hack - DAO was a dApp built on Ethereum that enabled crowd based venture capital. DAO token holders were given the right to vote on projects they wanted to support - if projects went on to be successful, DAO token holders would receive financial rewards. The DAO ICO received $168 million in funding. The DAO software was hosted on the Ethereum blockchain and was publically visible by all. A hacker spotted a flaw in the DAO's code that enabled him to route $55M in ether held by the DAO into an account that he controlled. The Ethereum team had do do something called a hard fork (something I won't get into now) to reverse return the stolen funds. Parity Wallet Freeze - Parity is a wallet where people store Ether. A flaw in Parity's code let a user delete a specific line of code that was necessary for accessing funds in a Parity wallet. This led to $280 million dollars worth of ether being frozen - it hasn't been stolen but it can't be accessed either. Parity Technologies has proposed another hard fork to correct the issue - something that is sure to divide the Ethereum community and rattle user confidence.
Despite the world changing implications that Ethereum dApps and smart contracts have, the trouble is that any programmer can write them - if they aren't written properly, they can behave in unintended ways and be exploited like in the above listed examples. Ethereum is still a very young network and security issues with dApps and smart contracts will have to be sorted out if its to reach its true aspirations.
Leading The Decentralized Revolution
“Ethereum aims to take the promise of decentralization, openness and security that is at the core of blockchain technology and brings it to almost anything that can be computed.” - Vitalik Buterin
With dApps, smart contracts and blockchain technology, Ethereum is leading the decentralized revolution. Bitcoin is the world's first decentralized currency, that operates on a global network of computers outside of central intermediaries. Ethereum gives programmers a platform to develop a decentralized version of just about anything.
Decentralized networks like Ethereum have the power to remove the intermediaries that currently exist between producer and consumer. Let's take a company like Uber. Uber is a platform that brings people who need rides together with people who have cars. To facilitate this interaction, Uber collects 20% of every ride. With Ethereum and blockchain technology, there is nothing to prevent a bunch of software developers from writing a dApp that creates a decentralized Uber. Instead of 20% per ride, transaction fees are paid to the network and the driver takes home the lions share of the transaction. Tokens can be issued that represent ownership in the network. Coders who work on improving the network can get paid for their efforts in ownership tokens. Non-technical people can come up with marketing campaigns that spread awareness for the network and also get compensated in ownership tokens. As the decentralized Uber network grows and improves, the value of its ownership token increases, rewarding the people that built it. The result is whats referred to as a "Decentralized Autonomous Organization" and theres a strong possibility that DAOs replace a lot of the world's biggest corporations.
This may sound like a radical concept but blockchain technology enables these kinds of decentralized organizations to exist - Ethereum provides the tools for people to go out and build them.
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