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SLP105 Justin Moon & Stepan Snigirev - DIY Bitcoin Hardware Wallet and Multi Signature - Stephan Livera

SLP105 Justin Moon & Stepan Snigirev - DIY Bitcoin Hardware Wallet and Multi Signature - Stephan Livera submitted by LightningPlus to Bitcoin [link] [comments]

10-15 Years Needed to Convince Buffet, As TRON’s Justin Sun Moves to Install Bitcoin Wallet on Buffet’s Phone

10-15 Years Needed to Convince Buffet, As TRON’s Justin Sun Moves to Install Bitcoin Wallet on Buffet’s Phone submitted by layuse to btc [link] [comments]

Twitter hacking megathread

Notable twitter accounts have been compromised. I'll post as many links as I can below. I'll scrape and attribute from the comments over time.
Users compromised (non exhaustive): Apple Uber Cashapp Ripple A lot of Crypto Companies (Bitcoin, Coinbase, Gemini, Coindesk, Binance, etc.) A lot of Crypto personalities (Charlie Lee, CZ Binance, Justin Sun, etc.) NYSE Bill Gates Elon Musk Jeff Bezos Kanye West Obama Joe Biden Mr Beast Floyd Mayweather XXXTentacion Wiz Khalifa Warren Buffett credit to zia1997
You can watch the Bitcoin wallet here
Here is a link to a twitter search to see who all is tweeting the hacked message. Credit to ppratik96
https://twitter.com/Cian_911/status/1283508808594132993?s=20
https://twitter.com/RachelTobac/status/1283509795316658176?s=20
https://twitter.com/YarnoRitzen/status/1283515596731297798?s=20
https://twitter.com/oneunderscore__/status/1283507013755056128?s=20
https://twitter.com/jasonbaumgartne/status/1283505889299832832?s=20
https://twitter.com/elonmusk/status/1283504320848306177?s=20
https://twitter.com/oneunderscore__/status/1283503577760137219?s=20 Cian :fourleaf_clover: @jasonbaumgartne @oneunderscore_ @BrandyZadrozny Bezos hacked too, just seconds ago
CNBC: https://www.cnbc.com/2020/07/15/hackers-appear-to-target-twitter-accounts-of-elon-musk-bill-gates-others-in-digital-currency-scam.html originally posted by spoons42
Mashable: https://mashable.com/article/elon-musk-coinbase-binance-twitter-accounts-hacked-cryptocurrency-scam/
TechCrunch: https://techcrunch.com/2020/07/15/twitter-accounts-hacked-crypto-scam/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8
Business Insider: https://www.businessinsider.com/hackers-bitcoin-crypto-cashapp-gates-ripple-coindesk-twitter-scam-links-2020-7 originally posted by youdontknwm3
The Verge: https://www.theverge.com/2020/7/15/21326200/elon-musk-bill-gates-twitter-hack-bitcoin-scam-compromised originally posted by habichuelacondulce
Co-founder of Gemini(crypto currency exchange who got hacked) says they used 2FA and a strong password.
Rumor is an employee panel got hacked which gives access to all Twitter accounts.
Statement from a spokesperson for Bill Gates. "We can confirm that this tweet was not sent by Bill Gates. This appears to be part of a larger issue that Twitter is facing. Twitter is aware and working to restore the account.” (credit to batman_00)
Appears to be a Twitter Employee that was compromised.
Official response from Twitter
submitted by X019 to technology [link] [comments]

Monero Community Workgroup is preparing for the large growth ahead

Diego (u/rehrar), Doug (u/needmoney90), and Justin (u/SamsungGalaxayPlayer) would like to share some exciting news regarding the Monero Community Workgroup (MCW). The Monero community is growing, and so is our support and group of volunteers. The TL;DR is that you can expect some cool things as we grow.

Some MCW History

The MCW initially began as the Monero Marketing Workgroup in March 2017. Diego was interested in helping grow the Monero community, so he contacted Justin and set up the MoneroMarketing subreddit. At the time, the idea of a Monero marketing initiative shocked many in the community, who greatly appreciated Monero's general distance from the marketing efforts by many ICOs and scams around that time.
The Monero Marketing Workgroup focused mostly on preparing educational materials and getting people involved to work on Monero-related initiatives. Shortly after the workgroup began, it transitioned into an area that needed more love: community organization and communication.
Up until this point, the Monero community was focused around the developer meetings and the Monero subreddit. While these are still highly relevant in the Monero ecosystem (for good reason), there wasn't a great way for people to stay updated with the latest news and to discuss non-development items. The Monero Community Crowdfunding System (at the time Forum Funding System) submissions weren't discussed in the same way that they are today, and there was no central Community Workgroup to help bring initiatives together. It was obvious that with a larger, more diverse Monero community, a dedicated set of resources would be necessary to connect all these projects together.
The Monero Marketing Workgroup became the Monero Community Workgroup during the first Community Workgroup meeting on 18 June 2017. These meetings have largely occurred every other Saturday ever since and serve as an essential community service to discuss CCS proposals, hear workgroup updates and news, and discuss new ideas. The Community Workgroup channel (#monero-community) is used for many other purposes, including other scheduled meetings on deemed-necessary items of interest and regular feedback, questions, and chat.
On 7 October 2017, the workgroup hosted its first Coffee Chat, a casual conversation covering the month's recent news and most important discussion topics. These Coffee Chats help humanize the Monero community, who until this point typically were only known by their pseudonyms. The MCW played a part in the Monero Konferenco, Critical Decentralization Cluster at the Chaos Communication Congress, and Monero Village at Defcon livestreams and derived content. It also hosts Breaking Monero, a series that features members from the Monero Research Lab who discuss Monero's limitations.
A year after the MCW became its new name, the newly-founded Monero Outreach Workgroup took over many of its initial ambitions in June 2018. Other related workgroups like Monero Ecosystem have their own communities and functions.

The Community Keeps Growing

The Monero communities are significantly larger than they were back in early-2017, and they keep on growing. In early-2017, there were no mobile wallets, the GUI was only 3 months old, there were far fewer exchanges, etc. Today, Monero has one of the largest, most respected, and most passionate communities. We have the third largest number of developers of any cryptocurrency project, we are the only project with our own DEF CON village, and we are one of the few names that everybody knows. Awesome work to everyone around, truly.
With larger communities comes more work. The community deserves reliable, appropriate resources to sustain this growth. In a decentralized community, this is difficult. Monero Core provides some essential services such as the CCS, getmonero.org, Mattermost, and GitLab. However, they have been unable to meet the growing needs of the community alone. Thus, the MCW has been happy to support other needs to the extent possible: we discuss CCS proposals during our meetings, host several servers, organize Coffee Chats and conference talks, and more, along with efforts of other workgroups. These have become such a significant undertaking, and that's a good thing. As Monero continues to set the gold standard for cryptocurrencies the expectations keep growing. It's awesome to be a part of something where so many people care.

Our Future

The MCW has grown too much for the three of us to organize all the resources we need, let alone the needs of everyone in the Monero communities and workgroups. Thus, we are furthering our commitment and offering substantially more services in the coming months. To get there, we need your support to fill volunteer leadership and support positions.
Expect the following dedicated services from us:
  1. Jitsi server with higher framerate and resolutions than Jitsi Meet, so that our Coffee Chats, conferences, and other events are better quality than before.
  2. NextCloud to safely and securely collaborate on blog posts, share files, and more.
  3. Sandstorm and Wekan kanban board (open source Trello copy) to keep track of, propose, and assign tasks and projects.
  4. Chatwoot to provide tailored support for Monero users with a volunteer support community (also a good learning exercise).
  5. Mastodon to communicate about Monero and other news, so we aren't dependent on Twitter's policies and security.
  6. Flarum forum for Monero news and discussions, so we aren't dependent on Reddit.
We need your help to make this happen! We will form "task forces" to focus on certain areas like marketing, system administration, meetings, moderation, and finance. If you have any of these skills, please join #monero-community and say hi, or shoot us an email ([email protected])!
Doug, Diego, and Justin feel that these changes will allow the Monero community to grow in new ways and continue collaborating. The community consists of many workgroups that focus on projects that they are interested in, and we want to support the efforts of these communities.
To allow these changes, Justin will form an LLC, with him and Doug being officially on the board, and Diego taking an advisory role.
Creating a legal entity serves two distinct purposes. First, it allows us to aggregate payments from many people into a single entity to pay the costs for hosting various community servers/services. This greatly reduces our own workload and out of pocket payment. Secondly, it allows us to aggregate multiple social media handles that are currently controlled by individuals under a single entity, to reduce the "Bus Factor."
Of course, the MCW will remain very much grounded in the ideals that made that made it great in the first place. And the entity will always support the Monero communities, never claim to fully represent everyone involved in Monero. It can only ever represent the efforts of those involved.
Current and future goals of the MCW include:
  1. Provide resources as necessary and reasonable, such as communication platforms
  2. Organize discussions to promote communication, such as Community Meetings and Coffee Chats
  3. Promote positive culture through events, such as with Coffee Chats, the Monero Konferenco, the Moneoversary, and the Monero DEF CON Village
  4. Support other Monero workgroups and Monero ecosystem projects
  5. Provide mechanisms to collect feedback on community, developer, and research proposals
  6. Discuss the Monero CCS ideas and otherwise support the Monero CCS
  7. Promote Monero and privacy education and marketing
  8. Serve as an available community mediatoarbitrator where reasonable
  9. Communicate the broad interests of the Monero community and provide a voice where and how appropriate
  10. Collaborate with other projects, companies, governments, and communities

Monero Community Support LLC

Q: Why does the MCW think that an LLC is needed?
A: For two primary reasons. First, payments. As mentioned, there is existing digital infrastructure, currently paid out of pocket by MCW leaders. Even if a CCS proposal was to be explored, it would make personal accounting and tax reporting very difficult as assets would technically be mixed with personal assets, throwing off capital gains calculations. Up until now this has been a sacrifice of time that we were content to make, but as we continue to ramp up our goals it is becoming increasingly cumbersome, and alternative methods are needed. An LLC would be able to hold these monetary assets as its own entity, and all funds could be kept separate from personal funds, leading to much easier accounting all around.
Secondly, an LLC would allow for digital infrastructure to come under the legal purview of several people, reducing the possibility for any particular person going rogue and decimating what has been built. There may be concern about bringing resources under a corporation, and that this is not in the spirit of Monero, but one thing to note is that all assets and services (noted above) are FOSS/CC. Meaning if at any time a community doesn't care for what the MCW accomplishes under this LLC, they can simply start their own infrastructure with low switching costs. Once again: EVERYTHING IS FOSS/CC.
Q: Why not a nonprofit, cooperative, or other type of organization?
A: While not out of the question, these take additional effort. We hope to grow into these organization types with the help of others. However certain registrations take a lot of time and effort, plus has quite significant restrictions on activities. The LLC will allow us the flexibility and convenience we need now, especially when we currently have no income anyway.

Looking Ahead

The MCW has a mountain range of opportunities ahead of it, as do all Monero communities and workgroups. We hope that our efforts are of use to you and others, and we hope that you join us in making something great :)
Justin, Diego, and Doug
submitted by SamsungGalaxyPlayer to Monero [link] [comments]

How DAO users can truly control their voting rights

How DAO users can truly control their voting rights
https://blockchaintopbuzz.medium.com/how-dao-users-can-truly-control-their-voting-rights-f945c9c6b65e
Aelf proposed a solution that gives the control of the voting rights back to users by classifying token permissions.
As of today, there are still few complete businesses. In addition to mining and building trading platforms, it is difficult to create a complete business model. Moreover, various trading platforms have gradually grown into enterprises with comprehensive products in the blockchain industry, including wallets, nodes, lending, mining pools, etc.
At the same time, cloud services can reduce the cost of building small exchanges, but they can also lead to big trading platforms monopolizing data. For example, some Internet companies provide free cloud services in order to collect more valuable data.
Currently, Ethereum, which has the richest DeFi ecosystem, is gradually upgrading to V2.0, and its consensus protocol will also be upgraded to PoS. Governance voting can be regarded as the most important feature in the PoS ecosystem.
This year, Yearn.Finance rose to sudden prominence. But due to the governance problem, its community members initiated a hard fork, resulting in YFII. Another DeFi project, YAM, had a unfixable rebase function error. The founding team apologized for the error and announced a ‘Migration Plan’, which will turn the project over to the community.
For a while, governance voting became all the rage. However, the increasingly bigger trading platforms have been criticized by users in governance voting. Is there a proper solution to handling the relationship between the trading platform and governance voting?

What will we lose when trading platforms monopolize the blockchain industry?

In June 2018, during the BP node election before the EOS mainnet launch, node voting began to have a crisis of confidence between token holders and the trading platform. it is widely believed that the top 20 holders of trading platform wallets held about 40% of all the EOS in circulation.
Since then, many trading platforms have enabled the “User Authorization” interface. EOS holders can authorize the token voting rights to the trading platform, who will vote on behalf of the users. The rule caused a backlash from users, forcing these trading platforms to change the rule immediately so that EOS holders could vote on their preferred BP nodes.
After the EOS BP node votes, whether the trading platform has the token voting right has been occasionally discussed, but fewhave noticed it.
Two years later, Justin Sun, founder of TRON, made a commercial acquisition of Steemit, a decentralized social networking platform. After the acquisition was announced, the Steemit community launched a soft fork to resist the project being controlled by TRON. However, Justin Sun voted with the support of trading platforms such as Binance, Huobi and Poloniex to prevent a soft fork.
After being questioned by users, Binance and Huobi said that they would no longer interfere in the voting of the Steemit community. However, hkdev 404 of the Steem community again reveived votes from Huobi accounts. It is said that nearly 40 million votes were cast during the incident, accounting for about 10% of the total circulation of STEEM tokens.
There is no doubt that when the trading platform monopolizes the industry, we will lose our voting right.
How do we defend our voting rights
The fact that the ownership of the tokens belongs to the holders is indisputable, but what about the voting rights of the tokens deposited on the trading platform? How can we defend our voting rights after trading platforms have monopolized the industry?

Trading Platform Model

Traditional centralized trading platforms will assign to each user a separate deposit address. After depositing, the depositedamount will be added into the cold wallet and hot wallet. When users want to withdraw their tokens, the trading platform will transfer the tokens out of the hot wallet. If there is insufficient balance in the hot wallet, then the tokens will be transferred from the cold wallet to the hot wallet, and then be withdrawn.
Under the traditional centralized trading platform model, once users transfer their tokens into a trading platform, it means thetoken ownership (including voting rights) is also transferred to that trading platform.
The aelf solution: classify token permissions and claim back voting rights
For the issue of “voting rights” between token holders and centralized trading platforms, aelf, a decentralized cloud computing blockchain network, has proposed a solution: to establish an aelf Centre Asset Management Contract on the chain. The contract can limit the funds entering the exchange and define different permissions to control the assets.
The main feature of the aelf Centre Asset Management Contract is to create the “Main Virtual Address of the Trading Platform”.
Each exchange has a main virtual address, which can only be used for transfer operation, but not for voting, trading and other operations. As a result, the exchange cannot misappropriate users’ assets for voting. At the same time, the assets of the primary virtual address are publicly available on the chain, which makes it more difficult for the exchange to misappropriate assets.
At the same time, the aelf Centre Asset Management Contract also has the function of “address definition”. The exchange can open different permissions to different addresses, such as opening different permissions according to the amount, transactions exceeding a certain amount can only be given the greenlight by using multiple signatures, and the assets can be frozen through the contract when the assets of the trading platform are stolen, etc.
For the users of the trading platform, the access of the trading platform to the aelf Center Asset Management Contract function will not undermine user experience. The virtual system address of the aelf Center Asset Management Contract will assign a virtual address to each user, which offers the same user experience as the traditional mode.
For the trading platform, each deposit address constructed by the virtual address system is generated by the algorithm and does not need to be carried out on the blockchain. This means that the trading platform does not need to manage a large number of private keys, and there is no risk that the private keys will be lost.
On the most important “voting rights” issue, the aelf Center Asset Management Contract will assign to each user a separate virtual address for voting:
Voting address = Hash (Exchange Main Address + Token + “VOTE”)
Voting process: the tokens are transferred from the main virtual address of the exchange to the special “voting address” for voting, and are then voted. After voting, the tokens are withdrawn from the voting address back to the main virtual address.
We can see that the aelf Centre Asset Management Contract proposed by aelf can improve the efficiency of the trading platform without affecting user experience. In addition, it solves the problem that users would lose their voting rights.
According to the data on Crypto Mode, the market value of PoS tokens has exceeded $33 billion without counting Ethereum. In the field of crypto, it is the biggest ecosystem next to Bitcoin. The most important function of PoS is vote staking. faced with bigtrading platforms, if the status quo continues, retail investors will gradually lose their “voting rights” that belong to them.

Comparison of Market Value of PoS tokens (Source: Crypto Mode)
The emergence of DAO offers an alternative to trading platforms who misappropriate users’ tokens, but it still can not change this situation. Of course, DAO will not die out. Small communities will still use DAO for community governance. The idea behind the design of aelf is to start from the underlying trading platform and solve this issue at the source. Whether the solution can work still takes time. However, as a member of the crypto industry, we should understand the importance of “voting rights”, and cannot allow the exchange to seize our rights at will.
Recently, aelf has also announced its DeFi plan, which includes a new blockchain 3.0 project with a large number of new technical features, such as cross chain function, virtual address and cloud services. Aelf also proposed a set of interoperability solutions with ERC-20 tokens. It can directly access the ETH ecosystem, allow ETH-based applications and wallets to directly access it, and maintain the interoperability with ETH. And aelf will provide a high-performance smart contract operation platform and cloud services that can support cross chain interaction. Users on major cloud servers can easily run aelf’s services and adjust the scale of cloud according to their own business needs.
The implementation of a slew of tools, cloud services and interoperability solutions developed by aelf means that centralized transactions can be directly connected to the aelf network, realizing one-click adaptation to the DeFi ecosystem. With aelf, CeFi and DeFi are able to learn from and complement each other.
submitted by Floris-Jan to aelfofficial [link] [comments]

Best Potential Moonshot Hands Down; TRUSTSWAP (SWAP) Full DeFi Suite, Simple P2P Trustless Escrow, and Great Tokenomics!

Trustswap https://www.coingecko.com/en/coins/trustswap
Okay guys I've spent the last two days learning about this token and I've come away very impressed. I think this token may be a serious contender for best performer this year. On the TrustSwap social platforms it feels like 2017. Here's some info about the company.
TrustSwap is a DeFi project created by the founder and CEO of Uptrennd Jeff Kirdeikis. Most notably he has the largest cryptocurrency investing group on Facebook, and he is what Tom was to MySpace but for Uptrennd. He host The Bitcoin and Crypto Podcast which is actually very good, and he has a massive following on Twitteother social. Better yet, this guy is a marketing genius like a less annoying Justin Sun. He has a pipeline of good news lined up and knows when and how to release that information on the masses. Everything he does seems meticulously thought through. He continually affirms his commitment to get SWAP listed on high volume exchanges with MXC yesterday, Hotbit today, and Houbi/Bitmax tomorrow he is actually succeeding. He is also very responsive and has team moderators standing by in the social media channels to field questions/vanquish FUD.
Here are the basics:
TrustSwap is building a DeFi ecosystem that will start out as a simple P2P trustless escrow and payment platform and evolve into a fully decentralized exchange (DEX) with leverage and futures options all offered via non-custodial smart contracts. They will also offer multi-chain token wrapping as a service and on-chain governance using the native ERC-20 token SWAP.
Imagine being able to wrap BTC, Monero, Digibyte, or any crypto and then trade it on uniswap, or have it interact with Ethereum compatible wallets, and applications.
Through this, you can move funds cross-chain without ever having to sign up to a Centralized Exchange, allowing you to never have to KYC, staying fully anonymous across exchanges.
Wrapping tokens also offers huge benefits to new blockchain projects that have their own chain, allowing them to save massively on listing fees, as well as instantly be connected to strong wallets and decentralized exchanges.
This puts the ability to trust back in the investor's hands and might spark a new ICO boom as new projects eager to establish credibility rush to use it. So yes beautiful wrapping everything layer 3 solution my brothren. And highly incentivised holding economics, for example rewarding users from fees collected from the DeFi network! And staking;
All fees paid to the platform will get split as follows:
80% goes back to holders as staking rewards
10% are burned forever (adding that value back to token holders)
10% goes to the dev fund which can be used as the community sees fit
This project has massive potential and is already building a strong community foundation with big moves coming soon as more exchanges and markets come on board. The staking and deflationary tokenomics make this a long term HODL for me.
Token Metrics:
Total Supply: 100,000,000 SWAP
Circulating Supply: 62,500,000 SWAP
Market Cap: $3.6 million
60,000,000 SWAP Initial liquidity offering on uniswap about two and half days ago, price dropped at like $0.035. Volume bottomed out and rising again (same with holder count).
20,000,000 Team Supply
20,000,000 Marketing, development, legal, bounties, OTC investors, airdrops.
LINKS:
Website: www.Trustswap.org
Discord: https://discord.gg/GNUrcK
Telegram: t.me/TrustSwap
Token address; https://etherscan.io/token/0xcc4304a31d09258b0029ea7fe63d032f52e44efe
Uniswap; https://app.uniswap.org/#/swap?inputCurrency=0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2&outputCurrency=0xcc4304a31d09258b0029ea7fe63d032f52e44efe
Extra nugget from Jeff on Discord; "@everyone
SwapLogo SWAP is listing on Hotbit this Monday! SwapLogo https://hotbit.zendesk.com/hc/en-us/articles/360051689713
This is the first step into TrustSwap's emergence in the Asian markets. We are going to be kicking off major marketing campaigns with an Asian marketing firm within the coming week to follow up this listing.
We also have a couple more Top-50 listings lined up for this week as well
When we had a vote to see which exchange you wanted to see SWAP listed on, Huobi was the winner by a massive margin, so we will be opening up the conversation with Huobi to get SWAP listed on there also in the near future."
DYOR!! Godspeed! I'll see you guys on the other side!
To address FUD about OTC investors dumping, yes they are dumping, it's my belief most weak hands have exited the market, they got in at $0.005 per SWAP.
submitted by Rational_Optimist to CryptoMoonShots [link] [comments]

The Role of the TRON Blockchain in Powering the Success of the JSB Foundation

The Role of the TRON Blockchain in Powering the Success of the JSB Foundation
The JSB Foundation has been made possible by the TRON Blockchain
Justin Sun, Born on July 10, 1990, is the man who founded the TRON Blockchain. He is also the current CEO of BitTorrent and a former representative at Ripple Mainland China. Additionally, he is the founder and CEO of Peiwo, a mobile social application in China.
Sun has an MA from the University of Pennsylvania East Asia Studies. He also has a BA in History from Peking University. At 26, Sun was picked by Jack Ma to study at Hupan University and he was the only millennium student amongst the first graduates.
In 2011, Sun was picked as the cover face of Yazhou Zhoukhan and the Davos Global Youth Leaders in 2014. Sun was named the CNTV’s most focused new entrepreneur in 2015 and he was included in the Forbes China 0 under 30 from 2015 to 2017.
The JSB Foundation has been made possible by the TRON Blockchain. Today, TRON is one of the biggest blockchain-based operating systems globally. Some of the key advantages of TRON are:
  • Scalability
High scalability is a key advantage of the TRON blockchain. Many applications are now launching on TRON because of this key advantage. On TRON, users get access to highly efficient and scalable smart contracts. Besides that, the platform is capable of supporting a large number of users and simultaneous transactions without significant lag times.
  • High Availability
Reliability is always a key consideration for any user of a blockchain platform. The platform comes with reliable network architecture, highly reliable user assets, as well as a high level of decentralized consensus. Additionally, the reward distribution system is highly reliable and it helps to promote the growth of the platform.
High Bandwidth
The high throughput on TRON has been achieved by improving the Transaction per Second (TPS) speed. Today, the TPS on TRON is higher than that of Ethereum and Bitcoin. It helps to ensure that TRON is a practical blockchain platform for daily transactions.
A Reliable Wallet
The TRON native wallet is called TronLink. It was first launched on the official website of TRON and it is powered by the TRON platform. The TronLink wallet is the go-to wallet for most users of TRON. It comes as a Chrome Wallet Extension and as an iOS and Android app.
With the wallet, users can send and receive TRX tokens and TRC10 and TRC20 tokens. Besides that, they can integrate smart contracts calls on the developer’s site. Another use case for the wallet is the ability to use DApps within the browser.
Today, the TRON TRX tokens have a market cap that makes it the top 20 global blockchain platforms. The platform launched its ERC20 tokens to the TRON mainnnet on June 25, 2018, which made the TRX tokens an independent coin.

About the JustSwap Platform

JustSwap is a decentralized protocol that will be at the core of the JSB Foundation. The protocol was launched in August 2020 by TRON and is part of a push by TRON to get in on the DeFi action. It aims to create a DeFi platform that will revolve around the TRON blockchain.
The launch of JustSwap was done via a live stream on Yizhibo, the Chinese version of Periscope. During the event, over 763,000 viewers were present. Sun later posted a one-minute video on his YouTube channel explaining JustSwap.
Sun said that JustSwap was an alternative to Uniswap, which is based on the Ethereum blockchain. It will make it possible for traders to trade in TRC20 tokens without paying commissions to the exchange. Besides that, users will be able to earn by providing liquidity on the DEX.
Uniswap, the platform on which JustSwap is based, is the largest protocol in the DeFi space by locked assets. In recent months, the DeFi sector, mainly based on Ethereum, has been growing rapidly. However, Uniswap does not support the TRON blockchain. As a result, users of Uniswap would be locked out of the potential benefits offered by TRON. When JustWap was launched, it achieved trading volumes of $10 million in the first 19 hours.

A Look at the JSBSwap Exchange

JSBSwap is an automated decentralized exchange that is powered by a constant production formula. The entire protocol is powered by smart contracts and secured using the TRON blockchain. The lack of third parties reduces security risks as well as operational costs. It will be one of the main products launched by the JSB Foundation.
The JSB Foundation has collaborated with the P2PB2B exchange for an upcoming launch. The IEO is set to take place on October 15 and it will be open to everyone.
Summary
From the foregoing, it is clear that TRON has the technology and community needed to create a sustainable decentralized platform. It was the reason the JSB Foundation built the platform on the TRON blockchain. The use of TRON will ensure that as JSB grows, it does not face restrictions when it comes to scaling and the speed of transactions.
Combined with a highly motivated team and viable products for the DeFi space, JSB should be quite a success. As the DeFi space continues to expand, more people will want to discover alternatives to existing platforms that offer them value for their funds. JSB has various protocols built to enhance decentralization and value for participants. Its value proposition could help it to become a major success within the DeFi and specifically within TRON.
submitted by jsbfoundation to u/jsbfoundation [link] [comments]

An In-Depth Guide to: How do I Fix my Ledger Nano’s Stuck Ethereum Transaction?!?!?! (It’s Been Stuck for Weeks and NOTHING Traditional has Worked!!!!) As Well as: How Do I Choose My Nonce??? I’ve Tried MetaMask, MEW/MyEtherWallet, and Others, but Nothing is Working Correctly!!! I’m Dying by Stress!

So, if you were like me 1-2 months ago, you’ve probably already gone through 2,or 3, ...or 40 articles and guides that probably say something like:
“YeP, eVeRy EtHeReUm UsEr WiLl EvEnTuAlLy HaVe ThE LoW-gAs ExPeRiEnCe, YoU’rE nOt AlOnE! DoN’t FrEaK OuT tHoUgH; ThErE iS a WaY tO fIx It!”
Chances are, every time you read another useless article, you want to kill the nearest inanimate object, even though it was never alive in the first place. Nonetheless, you’re gonna kill it as much as it can be killed, holding nothing back; or, you’re just plotting to and slowly getting closer to executing the plan (and the object) every time you are insulted once again.
However, if you have the ability to download software (MyCryptoWallet) on a PC, it should be safe to relax now. I think you’ve finally found some good news, because I am 99.99...% sure this will work for the issue that so many people are having at this time, around the end of the month of May, year 2020.
More and more people are likely to be having this issue soon, since Ethereum's gas prices have been insanely high lately as well as having 300% price changes in a matter of minutes; Etherscan’s Gas tracker is nearly uselessly-inaccurate at this time. I've heard that there's a congestion attack; that was said a week ago, and it appears to be ongoing... (I can't think of any other suspect besides Justin Sun to blame it on... it must be incredibly expensive to overload the blockchain for this long... I may be wrong though...)
 
Let’s begin
For myself, I was trying to send an ERC20 token when this dreadful issue attacked. Specifically, the token was either BSOV or GRT; I sent them 1 after the other and the first succeeded, and the second one took over a week.
(They’re both great tokens in my opinion and deserve much more attention than they’ve been getting. BSOV is nearing its 1 year anniversary as I write this, and GRT is still in its 90 day community-development progress test, so of course I'm gonna take this opportunity to "shill" them; they are great tokens with great communities).
I was able to finally fix it, after a week of mental agony (also the txn finally processed 1-2 hours before I found the solution, robbing me of the gratitude of fixing it myself... (╯‵□′)╯︵┻━┻ ...but now I guess I can hopefully save some of you the headaches that I endured... ) I’m providing the ability to do the same, in a step by step guide.
Why did I go through all of this trouble? I'd fault the fact that I have ADHD and autism, which in my case can multiply each other’s intensity and cause me to “hyper-focus” on things, much much more than most with the same qualities, intentionally or not. Adderall is supposed to give me a bit of control over it, but except for in a very-generalized way, it’s still 90% up to chance and my default-capabilities to allow me control over my attention with self-willpower. But also Karma and Moons pls... ʘ‿ʘ
 
  1. In MyCrypto, (I'm using the Windows 10 app, version 1.7.10) you will open to a screen that says "How would you like to access your wallet?". Choose Ledger, of course. (Unless your here for some non-ledger issue? Idk why you would be but ok.)
  2. On the next screen (having your nano already plugged in, unlocked, and opened into the Ethereum app) click "Connect to Ledger Wallet"
  3. A screen overlay should appear, titled: "Select an Address". Here is where it may get confusing for some users. Refer to "AAA" below to know how to find your account. (Geez, sorry lol that was a huge amount of info for a reddit reply; I might've over-elaborated a little bit too much. but hey it's valuable information nonetheless!)
  4. After escaping the "AAA" section, you'll have accessed your account with MyCrypto. Awesome! To find your ERC20 tokens, (slight evil-laughter is heard from an unidentifiable origin somewhere in the back of your mind) go to "AAB".
  5. (You may have decided to find the token(s) on your own, rather than daring to submit to my help again; if so, you may pity those who chose the other path... ~~( ̄▽ ̄)~~) Now, once you've added your token, you should revert your attention to the account's transfer fill-out form!
  6. I'll combine the steps you probably understood on your own, already. Put in the address that your stuck transaction is still trying to send currency to. If an ERC20 token is involved, use the drop-down menu to change "ETH" to the token in trouble. Input your amount into the box labeled... wait for it... "Amount". Click on "+Advanced".
  7. Refer to Etherscan.com for the data you will need. Find the page for your "transaction(txn) hash/address" from the transaction history on the wallet/Ethereum-manager you used to send from. If that is unavailable, put your public address that your txn was sent from into the search tool and go to its info page; you should be able to find the pending txn there. Look to open the "more details" option to find the transaction's "Nonce" number.
  8. Put the nonce in the "Nonce" box on MyCrypto; you will contest the pending txn with a new txn that offers larger gas fees, by using the same nonce. If (but most likely "When") the new transaction is processed first, for being more miner-beneficial, the nonce will then be completed, and the old transaction will be dropped because it requests an invalid, now-outdated nonce. Your account will soon be usable!
  9. Go to the Gas Tracker, and it may or may not provide an informative reading. Choose whatever amount you think is best, but choose wisely; if you're too stingy it may get stuck again, and you'd need to pay another txn's gas to attempt another txn-fix.
  10. At the time I write this, I'd recommend 50-100 gwei; to repeat myself, gas requirements are insane right now. To be safe, make the gas limit a little higher than MCW's automatic calculation, you may need to undo the check-mark for "Automatically Calculate Gas Limit".
  11. Press "Send Transaction"!!!
  12. You will need to validate the action through your nano. It will have you validate three different things if you are moving an ERC20 Token. It's a good idea to verify accuracy, as always.
 
Well, I hope this worked for you! If not, you can let me know in a reply and I'll try to figure it out with you. I like making these in-depth educational posts, so if you appreciate it please let me know; I'll probably make more posts like this in the future!
( Surely this is at least far better than Ledger's "Support" article where they basically just tell you "Yeah, we haven't bothered to make a way to manually select nonces. I guess we might try to make that available for Bitcoin accounts at some point in the future; who knows? lol"... that's not infuriating at all, right?)
 
AAA:
Before I tell you how to find your address, I will first make it clear, within the italicized text, exactly which address you are looking for, if you are not already sure:
You may also skip the text written in italics if your issue does not include an ERC20 token, if you wish.
Ledger Live can confuse some users with its interface. On LL, to manage an ERC20 token, you first must go to your Ethereum account and add the token. When you then click on the added token under "Tokens" below the graph chart for your account's ETH amount over time, the screen will then open a new screen, that looks just the same, except focused on the specific ERC20 token. To confuse users further, there is then an option to "Star account", which then add the ETH icon with the ERC20 token's first letter or symbol overlapping, onto the easy access sidebar, as if it was another account of similar independency to the ETH account it was added to.
This improperly displays the two "accounts" relation to each other.
Your ERC20 holdings (at least for any and all ERC20 that I know of) are "held" in the exact-same address as the Ethereum address it was added to, which also "holds" any Ether you've added to it. You send both Ether (ETH) and any ERC20 Tokens to and from only Ethereum addresses of equivalent capabilities, in both qualities and quantities. In all basic terms and uses, they are the same.
So, to know what the problematic account's address is, find the address of the Ethereum account it was added to in Ledger Live.
Now, to find your address on MyCrypto, the most reliable way to find it, that I am aware of, is this:
Open Ledger Live. Go to the screen of your Ethereum address (again, this is the one that you added your ERC20 token, if applicable. If you're not dealing with an ERC20 token, you may ignore everything I've put in Italics). Click on "Edit account"; this is the icon next to the star that may look like a hex-wrench tool. On the new screen-overlay, you will see "> ADVANCED LOGS". Click on the ">" and it will point down while revealing a drop-down with some data that you may or may not recognize/understand. Likely to be found indented and in the middle-ish area, you will see this line, or something hopefully similar:
"freshAddressPath": "44'/60'/X'/0/0",
The "X" will probably be the only thing that changes, and the actual data will have a number in its place; it will not be a letter. Let's now put that line to use in MyCrypto:
Take the 44'/60'/X'/0/0 , and make sure you DO NOT copy the quotation marks, or that comma at the end either.
You can do this before or after copying and/or pasting, but drop the second "/0" at the end; it was not necessary in my case, I expect that you won't need it either, and will probably just make MyCrypto see it as an invalid input.
Okay, now go back to the "Select an Address" screen-overlay in MyCrypto.
Next to "Addresses", click on the box on the right, and you should be shown a list of options to select from in a drop-down menu.
Scroll all the way down, and you should find the "Custom" option at the very bottom. Select it.
A new box will appear; probably directly to the right of the now-shortened box that now displays the "Custom" option that you just selected. This box will offer an interface for typed input. ...yep... once again, believe it or not, you should click it.
Type " m/ ", no spaces before or after.
Type in or paste the data we retrieved from ledger live.
The box should now hold this:
m/44'/60'/X'/0
Again, X should be a number. In fact, that number is probably equal to the number of Ethereum (not including any ERC20 wannabe) accounts that you've made on Ledger Live before making the one we're working on right now! (1st Eth. Acc. would have: X = 0, 2nd: X = 1, 3rd: X = 2, ...)
Make sure you've included every apostrophe ( ' ), and solidus ( / ); there is NO APOSTROPHE for the "m" at the start and the "/0" at the end!
If you press the enter key or click on the check-mark to the right of where you typed, the appropriate addresses will be generated, and the address you created through Ledger Live should be the first one on the list!
Select your address and press "Unlock", and you are now accessing your account through the MyCrypto app's interface!
 
AAB:
In order to access your ERC20 token, you will need to add them first.
You may have to scroll down, but on the right-side of your unlocked account screen, you'll see a box with "Token Balances" as its header.
Click "Scan for tokens". This may take a short bit of time, and when it's done it may or may not display your ERC20 token. If it worked, you can head on back to the main part.
If you got the result I did, it won't display your token, or, if our result was exactly the same, it won't display any at all. However, you should now have the "Add Custom Token" option available, so see where that takes you.
You should discover four boxes, specified in order (Address/ Decimals / Token_Symbol / Balance). You may only need to fill in the "Address" box, but if you need to fill others, you'll find those with the token's address; here's 2 ways to find it, if you don't already know.
Method I:
Since you've probably already been managing your token with Ledger Live, you can go to the LL screen of your "account" for that token; Right next to the account's icon, and directly above the name, you'll see:
Contract: 0x??????...????????
Yes, go on; click it. You'll find the token's page on Etherscan; this was just a shortcut to the same place that both of the two previously referenced methods lead to. Skip to method... III?
Method II:
Go to Etherscan.com, or a similar Ethereum-blockchain-monitoring website, if you have a different preference. Search for the name of your token, and you should be able to see it as a search result. Activate your search manually of by selecting search option. Continue on with Method III.
Method III (Iⅈ what makes you think there was a third method? I said 2!):
At this point, you should find the "contract address" somewhere on the screen. This is the identity of the creature that breathes life into the token, allowing it to exist within the world of Ethereum. Steal it, and tell MyCrypto that you've left some of "your" tokens in the address of your ledger's Ethereum account. MyCrypto will trust and believe you without any concern or doubt, just by putting "your" contract address in the box for "Address"; it's almost too easy!
Well whaddya know, this one isn't actually too long! Don't tell anyone who may have taken a little longer whilst finding out how to do it themselves, though. There's value in trying to do something on your own, at least at first, so I'll let them think they made the right choice (¬‿¬). But take this star for humbling yourself enough to seek further help when you need it, since that is a very important life skill as well!
(o゜▽゜)o☆
Now, back to the useful stuff at the top...
 
EDIT: A comment below made me realize that this info should be added too. Here is my reply to the comment saying I could just use MetaMask. I said in the title that this guide is for questions where MEW and MetaMask aren’t working, but I guess it’s easy to miss. I used my u/caddark account to respond:
(Using this account because u/caddarkcrypto doesn’t meet the karma/age standards to comment; the post had to be manually approved.)
I guess I didn’t make it entirely clear; sorry:
The target audience for this guide is anyone with a stuck Ethereum transaction that was initiated through Ledger Live AND are experiencing the same difficulties I had encountered while trying to fix this issue for myself.
This wasn’t any regular stuck Ethereum transaction. Apparently before, there was an issue that made a Ledger Nano nearly impossible to connect to MetaMask (which is also Brave Browser’s integrated “crypto wallet” for the desktop version) and/or MEW (also perhaps any other browser wallets made for chrome and/or brave) that I heard was supposed to be fixed in a recent update. It might’ve been mostly patched, idk, but during my experience, (in which I was using the latest version of Ledger Live that is available right now,) that issue still remained.
The really weird part was that it successfully connected to the browser wallets again after I fixed the stuck transaction. At first I thought that somehow the txn was what was bugging the connection. However, later, during no txn issues, I was again unable to connect.
Seeing the same connection error again later, I opened up the MCW app I downloaded the day before, and was going to just use that. While in the process of operating MCW, I suddenly had another idea to try for the browser wallet so I went back to that just to quickly test it.
The browser wallet worked perfectly...
I don’t know how, but I think that somehow, something in MCW’s software, makes the browser wallets work. They don’t work for me without having MCW opened in the background first.
EDIT 2: Markdown decided to stop working after I did the first edit... I might fix it tomorrow... how did that happen though??? What did I do?
EDIT 3: nvm, I'm just fixing it now; I won't get much sleep tonight I guess.
submitted by CaddarkCrypto to CryptoCurrency [link] [comments]

Let's have a show of hands - Who supports the IFP (dev-tax)?

Or, more importantly, who is against it? It seems to me that almost the entire community is against this major change but it would be good if this is made clear in one place. It seems also that most of the people against this are well-known OG bitcoiners.
If you are against the current proposal as outlined by BitcoinABC HERE please make a top-level comment below (i.e. not a reply to another comment) stating:
Against IFP
If you run a BCH business, piece of infrastructure or project please add:
- from [INSERT PROJECT NAME]
I will add all names to a list below.
It is important to know this as this is what BCH is potentially set to lose should this go through. My hope is that if miners can see how much of the ecosystem is against this then they will reconsider.

Businesses, Infrastructure, Projects & Institutions

Developers

Individuals

submitted by singularity87 to btc [link] [comments]

Weekly Update: 5th Parachute League, Constellation + Splunk, Limit Orders on Voyager, SwitchDex update…– 12 Jun – 18 Jun'20

Weekly Update: 5th Parachute League, Constellation + Splunk, Limit Orders on Voyager, SwitchDex update…– 12 Jun – 18 Jun'20
Sup folks! Continuing with our six-part catch up series to get up to date on the May and June news from Parachute and partners, here’s Part V of VI (12 Jun – 18 Jun'20):

Jason's #fridayprompt for this week got Parachuters to "look at a holiday or major event celebrated in your nation" and talk about "the significance, how it evolved and what happens during the event or holiday". Tiproom crew launched a video contest for the best tutorial on how Crypto Leagues works. The 5th Parachute League with a 100k $PAR prize pot was launched this week. Naj hosted a fun trivia in TTR for 10k $PAR in prizes. Peace Love’s “Big Trivia” this week was based on general knowledge. Congratulations to Babywolf for winning this week’s Parena and taking home a boatload of $PAR. Saweet! This week’s Two-for-Tuesday was themed on rock and metal bands. If you’ve been in Parachute for a while, you’ll know that Parachuters across the world love sharing pictures from their daily lives in the chat. Here are some snippets they shared this week:
What a welcome sight amidst all this gloom and doom indeed, LordHades! Location: Black Sea
Some glimpses from Alexis’ and Carlos’ aquariums
Dang! What a view. Pic credits: Chris
In Hydro educational content this week, the team published articles on what an E-Money License was and a guide to prepaid card regulations. Mastercard did a shoutout to the PaaS report which was released 2 weeks back. And congratulations for getting listed in the Top Fintech Startups of 2020 list compiled by Business Insider. Amazing achievement! SelfKey published a guide to crypto lending in the US and an article on the benefits of crypto lending. While Constellation hasn’t made a public announcement yet, it seems like they have entered into a partnership with tech giant Splunk. Pynk’s Head of Investor Relations Miguel Ortiz penned an article on how the current financial system is skewed. Wibson crew attended an online Techqueria event on privacy this week. The team will be presenting at the next event. A chapter on Wibson has been included in a newly released book by Springer Nature titled Blockchain and Distributed Ledger Technology Use Cases. If you missed the Harmony AMA with Binance this week, you can read the transcript here. 1k USD worth of $ONE were given away. Sweet! And what an amazing edit for Justin Bieber fans. Haha! The weekly PoW thread can be read here. Harmony has climbed to the second position in overall score on the Staking Rewards platform. The team sat down for an AMA with Trust this week. Click here to catch up. They appeared for another AMA with Sesameseed as well. The entire session can be re-watched here. Covalent featured the project in its latest podcast. $ONE got listed on Switchain. Sesameseed started a staking campaign to reward $ONE delegators. Folks new to Intellishare can get acquainted with the project from their latest article. As GET Protocol’s Q2 2020 token burn event comes closer, the community got down to guessing the burn amount for a crack at 250 $GET in prizes. GET Protocol’s ticketing platform GUTS Tickets announced that it will be ticketing Woodkid’s Amsterdam event in Jan 2021.
The Mycro Hunter landing page looks fresh in case you haven’t checked it out yet
Click here and here to track the latest AXPR burns. 2gether founder Salvador Casquero was invited to the First Movers show on Capital Radio where he spoke about how the platform is innovating in fintech during the pandemic. CEO Ramon Ferraz appeared for the Territory BTC podcast to talk about the market in general and the growth of 2gether. YouTuber Bitcoin Sin Fronteras posted a video on how easy it was to buy crypto on 2gether. Quinten Francois of the Young and Investing YouTube channel also did a detailed review of the app. In #XIOSocial discussions this week, Citizens pondered over the semantics and economics of the XIO dApp staking fees. BIrdchain crew published an article on how to grow a business with SMS messages. Bounty0x's Jordan Smith spoke at the Run for the Unicorns event hosted by Silica Nexus. Limit orders went live on Voyager this week based on community feedback. So the team opened up another survey to take inputs on new features. The latest version of SwitchDex and McAfeeDex went live this week. Fantom released a general update to cover all the recent news from the dev front. The release schedule of its DeFi suite, Fantom Finance, was published as well. Alpha Sigma Capital covered Uptrennd in its research coverage of in-focus projects. GDA Capital released an extensive report on the project too. Founder Jeff Kirdeikis sat down for an interview with Best Bitcoin Casino. The team is on a hiring spree in case you are looking for a gig. Click here to read the latest weekly update from District0x. Among the new items covered are dev updates to Meme Factory and other districts, ongoing Ethlance remake etc. COTI laid out its wallet strategy and how it aims to build adoption for Viper in a detailed post this week.

And with that, we have to close for this week in the Parachutesphere! See you again with another update. Cheerio!
submitted by abhijoysarkar to ParachuteToken [link] [comments]

Quantum supremacy and the case for quantum security today in blockchain.

Quantum supremacy and the case for quantum security today in blockchain. submitted by QRCollector to CryptoCurrency [link] [comments]

We must become organised to stop a corruption of the BCH protocol

Yesterday BitcoinABC released version 0.21 of their client. In this release a consensus rule is included that requires all BCH miners to pay 5% of their block subsidy and 5% of the fees they receive to a set of up to 4 BCH addresses. These addresses are controlled by:
This significant change in the protocol is to be activated using a BIP9 method. It will activate when at least 66% of 2016 blocks are produced by miners running their new release. There is no end date for the tax once it has been activated, so it will go on indefinitely unless manually removed with another hardfork.
This is occurring in the context of an almost unanimous opposition by the BCH ecosystem of businesses, miners, projects and users. This is something that they are fully aware of and have decided to ignore and push ahead anyway.
While it is of course true that the community needs to make sure there is sufficient funding for the projects within the BCH ecosystem that deserve it, and that the funding is provided voluntarily, there are currently numerous efforts under way to create software that makes this as simple as possible. For example, Flipstarter, U-DID, , and pool Donations. There is also a significant amount of will in the community to provide funding if sensible and concrete proposals are put forward.
This change is not only a fundamental change to the properties of Bitcoin as described in the original whitepaper, but has the high likelihood of causing a major split if the entire ecosystem does not work towards stopping it from happening.
Many of us are now organising an effort to oppose this fundamental change. We need as much of the ecosystem as possible to put their effort into stopping this if you don't want this to happen, so please join us at:

t.me/notaxBCH

In the interest of showing again just how much of the ecosystem is against this change I have added the list again below.

Businesses, Infrastructure, Projects & Institutions

Developers

Individuals

submitted by singularity87 to btc [link] [comments]

Our COO @czhuling will join the #Binance 'Off the Charts' Live Panel

Our COO @czhuling will join the #Binance 'Off the Charts' Live Panel
Register here to view it live: https://www.eventbrite.com/e/binance-off-the-charts-virtual-conference-tickets-108855951080

Gold Sponsors: aelf, VITE, Elrond Network, Alchemy, IOST

https://preview.redd.it/qleatsyvnma51.png?width=1102&format=png&auto=webp&s=2eabbe1439f2140f871f7eecdf883305a8a9fc06
Binance presents the “Off the Charts!” Virtual Conference, on July 14, 2020, from 9:00 AM to 7:00 PM (UTC).

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submitted by Floris-Jan to aelfofficial [link] [comments]

An analysis on Penguin Magic user reviews

Hello,
To practise some programming, I made an analysis of the user reviews left on penguin magic. I thought you could be interested in some of the results. It made me check a lot of products that I did not know about.
I excluded the reviews for expos and gift cards to analyse only physical items and tricks. I investigated only the items with at least one review. I combined items as Penguin did. This left me with 87761 reviews for 11318 items.
50 Most Reviewed Items
Item Rating Review Count
Born to Perform Card Magic by Oz Pearlman 4.87 556
Invisible Deck 4.70 506
Self Tying Shoelace by Jay Noblezada 4.74 373
Melt 2.0 by Matthew Johnson 4.65 348
Marked Cards 4.67 344
The Stealth Pen presented by Rick Lax 4.73 327
Coffee Break by Gregory Wilson David Gripenwaldt 4.65 320
Torched and Restored by Brent Braun 4.83 252
All Seeing Eye by Dan Harlan 4.75 244
The Poker Test 2.0 by Erik Casey 4.44 236
Binary Code by Rick Lax 4.78 236
The End by Rick Lax 4.64 225
Starcle by Dan Harlan 4.85 220
OneTrix by Mario Lopez 4.50 214
Close-Up Illusion by Larry Jennings presented by Michael Ammar 4.70 206
Hummes Whirling Card 4.36 195
Two Dollar Window by Jay Noblezada 4.80 191
GREED Starring Daniel Garcia 4.54 190
Modern Transportation by David Regal 4.88 187
Vuja De by Rick Lax 4.78 181
DRESSCODE by Calen Morelli 4.75 181
Predixion by Max Maven 4.89 178
Color Monte 4.87 173
The Secrets of Magic by Rick Lax 4.67 173
In the Beginning There Were Coins Starring Jay Noblezada 4.76 170
Panic by Aaron Fisher 4.77 168
Or Not by Dani DaOrtiz 4.74 165
Bicycle Elite Edition Playing Cards 4.72 165
Super Soft Deluxe Nest of Wallets 2.0 by Nick Einhorn and Alan Wong 4.66 162
Tornado by Justin Flom and Rick Lax 4.82 161
BWave DELUXE by Max Maven 4.84 160
Bently by Chris Hanowell 3.60 159
Binary Code 2 by Rick Lax 4.88 159
Copycat by David Parr 4.88 157
BITCOIN by Rick Lax 4.57 157
Muldoon Match by Paul Gordon 4.77 156
ID7 by Rick Lax 4.37 155
Monkey in the Middle by Bill Goldman presented by Magick Balay 4.76 154
Little Door by Roddy McGhie 4.61 153
SPONGE Starring Jay Noblezada 4.80 152
Eclipse by Dave Loosley 4.60 152
Peter Turner LIVE 4.52 152
Position Impossible by Brent Braun 4.83 150
Clutch by Oz Pearlman 4.67 144
Zoltar by Shaun Dunn presented by Lewis Le Val 4.38 144
BANDIT by Darryl Davis & Daryl Williams (a.k.a. The Other Brothers) 4.80 144
The Known by Thom Peterson 4.47 143
The Ultimate Three Domino Monte 4.14 143
Psypher PRO by Robert Smith 4.73 142
Mnemonica Trainer by Rick Lax 4.81 141
25 5 Star (5*) Items
There are a lot of (3245 to be precise) items that received only perfect 5* reviews. But of course, that could be only one reviewer giving 5* and that would not mean a lot. The following table shows most reviewed yet still rated 5* items.
Item Rating Review Count
Diamond Jim Tyler LIVE 5.00 73
Carisa Hendrix LIVE ACTS 5.00 52
David Corsaro LIVE 5.00 30
Halloween by Natalia Silva 5.00 29
Howard Hamburg LIVE 5.00 25
Daniel Chard LIVE ACT 5.00 22
Sibyl by Phedon Bilek 5.00 21
Ian Rowland LIVE ACT 5.00 16
John (Fast Jack) Farrell LIVE 5.00 16
Morgan and West LIVE 5.00 16
Red Pill by Chris Ramsay 5.00 16
Jay Noblezada presents HTG LIVE: Hypnosis Training Group 5.00 16
NX11 :: The Noblezada Experience 5.00 16
QA Masterclass by Bob Cassidy 5.00 16
Takamiz Usui LIVE 5.00 15
Venom Cube by Henry Harrius 5.00 15
Move Zero (Vol 1) by John Bannon and Big Blind Media 5.00 15
Tom Wright LIVE 5.00 15
TC Tahoe LIVE 5.00 15
Jonathan Pendragon LIVE 5.00 15
Jan Forster LIVE ACT 5.00 14
13 Steps To Mentalism (6 DVDs) by Richard Osterlind 5.00 14
Jermays Mind (DVD Set) by Luke Jermay 5.00 14
Phoenix Deck 5.00 14
Tarbell 77: X-Ray Eyes and Blindfold Effects 5.00 14
50 Top Rated Items
I'll list the top-rated items. I'll include only the items that have at least 20 reviews. (This leaves us with 995 items to order).
Item Rating Review Count
Diamond Jim Tyler LIVE 5.00 73
Carisa Hendrix LIVE ACTS 5.00 52
David Corsaro LIVE 5.00 30
Halloween by Natalia Silva 5.00 29
Howard Hamburg LIVE 5.00 25
Daniel Chard LIVE ACT 5.00 22
Sibyl by Phedon Bilek 5.00 21
Diamond Jim Tyler LIVE 2 4.98 56
David Williamson LIVE 4.98 109
Drew Backenstoss LIVE ACT 4.98 83
Jay Scott Berry LIVE 4.97 37
David Hira LIVE 4.97 67
Toibox Card To Box System by Jonathan Kamm 4.97 133
Jason England LIVE 4.97 33
Dyno by Joe Rindfleisch 4.96 27
Paul Gordon LIVE 4.96 27
Roberto Giobbi LIVE 4.96 25
SvenPad® Minis Black Cover Pair 4.96 24
Mark Mason LIVE 4.96 23
Marc Paul LIVE ACT 4.96 23
Joshua Jay LIVE 4.96 23
Brent Braun LIVE 4.95 22
Seth Kramer LIVE ACT 4.95 21
Robert Temple LIVE 4.95 20
Bandwidth by Greg Wilson 4.95 37
Stegosaurus by Phill Smith 4.94 49
TRIUMPH Starring Oz Pearlman 4.94 31
Banachek LIVE 4.93 59
Fiber Optics Extended by Richard Sanders 4.93 29
Name and Place by Bob Cassidy 4.93 71
The Special Assortment Deck 4.93 28
Cody Fisher LIVE ACT 4.92 26
Blank Face Bicycle Deck 4.92 26
Richard Osterlind LIVE 2: Pocket Mentalism 4.92 38
Scratch by Chad Long 4.92 24
Caught Red-Handed by Michael Mode & Arthur Ottney 4.92 24
Modern Coin Magic by J.B. Bobo 4.91 46
Dave Loosley LIVE 4.91 23
Mark James LIVE 4.91 22
Strong Magic by Darwin Ortiz 4.91 22
Acrobatic Knot (with DVD) by Daryl 4.91 22
DMC ELITES : ROUGE marked deck 4.91 22
Shin Lim LIVE: Visual Magic. 4.90 21
Tornado REFILL 4.90 31
CLEAR CHOICE by Thinking Paradox 4.90 81
Choose Five for 99 4.90 79
True Triumph by Paul Cummins 4.90 29
Eugene Burger LIVE 4.89 57
Predixion by Max Maven 4.89 178
Bill Malone LIVE 4.89 36
25 Least Liked Items
Following table shows the 25 items that have the worst ratings and at least 10 reviews.
Item Rating Review Count
Phantom by Peter Eggink 1.44 16
RETRIEVE (Gimmick and Online Instructions) by Smagic Productions 1.56 16
Penciltration by Jesse Feinberg 1.70 10
Force of Will by Dave Hooper - DVD 1.71 17
Phone Phreak by Jeff Prace & Paul Harris 1.81 16
PK Coin by Nathan Kranzo 2.11 28
POST_NOTE By Antonio Smith-Plata 2.24 17
Never There by Morgan Strebler - DVD 2.29 14
Spirit by Arnel Renegado 2.33 12
The Gecko by Jim Rosenbaum 2.39 36
The Incredible Shrinking Finger by Dan Hauss (Additional handling by Paul Harris) 2.40 10
The Wizards Flip Book 2.41 17
Phone-omenon by Doug McKenzie 2.44 16
Elevator by Peter Loughran 2.47 15
BLAZE by Thinking Paradox 2.53 19
Ambitious Finger by Mario Lopez 2.53 53
Absolute Zero (Gimmick and Online Instructions) by SansMinds 2.53 15
Cheese Smile by Smagic Productions 2.55 11
Liquid Metal 2 by Morgan Strebler 2.57 14
Sealed by Menny Lindenfeld 2.57 61
GREEN FACES by Dalton Wayne 2.58 12
Ice Cold: Propless Mentalism (2 DVD Set) Limited Edition by Morgan Strebler and SansMinds - DVD 2.58 12
Nathan Kranzo LIVE 3 2.60 10
Jay Sankeys ORIGINAL Wrap It Up! (Trick Only) 2.62 21
Sharp This by Vanishing Inc 2.64 11
30 Most Controversial Items
I tried to measure controversiality with a ranking system. If all the reviewers gave the same rating for an item, then the controversiality is calculated as 0%. And the most divided option, where half of the reviewers rate an item 1* while the other half reviews it 5*, is rated as 100% controversiality. Here are the most controversial items with at least 10 reviews:

Item Rating Review Count Controversiality %
HACAAN 3.07 27 92.46
Chris Mayhew LIVE 2.94 16 90.63
Sharp This by Vanishing Inc 2.64 11 89.26
Justin Miller LIVE 3.05 22 88.64
CARD IN THE KEYCHAIN by Stefano Curci 3.20 10 88.00
Cut 2.0 LIMITED by Ran Pink 2.88 16 86.72
P'INK by Ran Pink 2.88 82 84.62
Ice Cold: Propless Mentalism (2 DVD Set) Limited Edition by Morgan Strebler and SansMinds - DVD 2.58 12 84.03
Winner's Dice (Gimmicks and Online Instructions) by Secret Factory 3.38 13 84.02
Stained Glass by Adam Grace 3.10 10 84.00
Joe Monti LIVE 3.36 14 82.14
Elevator by Peter Loughran 2.47 15 81.33
Strongman by Jimmy Strange 2.88 16 81.25
GREEN FACES by Dalton Wayne 2.58 12 80.56
iMove by Oliver Smith 2.67 12 80.56
Jay Sankey's GEMINI POUCH (Trick Only) 3.45 11 80.17
Nathan Kranzo LIVE 3 2.60 10 80.00
Titan's Finger by Titanas 3.63 16 79.69
vACAANt by Area52 3.42 24 78.13
Triple C (Red Gimmicks and Online Instructions) by Christian Engblom 3.70 10 78.00
The Switch by Shin Lim 3.67 18 77.78
Memoria by Luke Jermay (Instant Download) 3.64 11 77.69
Rudy Hunter's Total Control with Cards 3.77 13 77.51
Phone-omenon by Doug McKenzie 2.44 16 77.34
SansMinds Sharpie (DVD and Gimmick) by Will Tsai 3.00 13 76.92
Derren Brown LIVE 2.74 105 76.87
Hidden Hand by Sean Fields 2.84 51 76.62
Harlan's No Tape, No Glue, No Scissors, 20-second Setup Torn & Restored Newspaper 2.76 17 75.78
Darryl Vanamburg's "Black Widow" 3.77 13 75.74
Absolute Zero (Gimmick and Online Instructions) by SansMinds 2.53 15 75.56
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Cryptomarketing in 2020: successful application of strategies from MLM and the beauty industry

Cryptomarketing in 2020: successful application of strategies from MLM and the beauty industry

Cryptomarketing in 2020: successful application of strategies from MLM and the beauty industry
Over the past decade, the crypto-industry has proven to be a unique industry with a specific audience, which requires a no less specific approach. In this regard, in 2020, the advertising activity of crypto companies is significantly different from that to which banks and various financial companies resort. Industry leaders prefer not to rely on traditional online advertising on Facebook, Instagram and YouTube. They follow a different path: they work with bloggers (opinion leaders and influencers), rely on MLM marketing referral programs and actively organize various contests and sweepstakes with generous prize pools. The CoinDesk portal claims that crypto marketing this year is strikingly reminiscent of marketing in the beauty industry, and here it is no less effective.

General concept

Michelle Fan, a blogger with a million YouTube subscribers, is using the same techniques to spread skin care life hacks and the idea of financial freedom through bitcoins. Moreover, she assures that the leaders of the crypto industry, like her, use marketing schemes from the beauty industry, even if they themselves do not know about it.
Both areas prefer to use the DTC (Direct to Customer) business scheme, independently creating and then promoting and selling goods / services, working as closely as possible with the community. Sales are built through aggregated retail platforms like Amazon, Etsy and Shopify, or even through accounts in popular social networks.
Industry leaders in developing countries often resort to the latter option, where large sites like Amazon simply don’t work or aren’t popular. For example, Michelle Haber, a bitcoin maximalist from Libya, made it clear in CoinDesk’s comment that social networks and chats are today the most effective way to distribute goods / services in crypto topics. He said that local traders in order to “educate” the audience help buy hardware wallets, selling them through groups on social networks. Buying yourself Trezor or Ledger in another way is often simply impossible.

Work with opinion leaders

Michelle Fan is not the only person from the crypto-community who notices the similarities with the beauty industry. So, Maria Paula Fernandez, who actively uses the services of the DeFi sector and is seriously interested in the topic of skin care, gave the CoinDesk portal a similar comment.
She notes that in both cases, society has become accustomed to relying on the opinion of society itself, rather than trusting the views of the world’s leading media. Therefore, in both sectors, the so-called influencers are very popular — opinion leaders and bloggers who disseminate information among their audience on YouTube, Instagram, TikTok and other social networks, receiving a reward for this.
Crypto-companies very often, like firms from the beauty industry, provide their products to opinion leaders for review and further “instruction” of their subscribers. Maria Paula Fernandez does not see anything shameful in this. Observing the experience of bloggers, subscribers begin to acquire a kind of crypto-education and disseminate the information through the word of mouth. Thus, the crypto-community grows.
The most successful bloggers over time can count on sponsorship from one or another crypto company.
For example, the podcaster Marty Bent, whose show is now funded by Unchained Capital and Square, the developer of Cash App, witnessed this scenario. The latter, by the way, in addition to Bent sponsor also podcast Joe Rogan and rapper Lil B.
Many other large companies, including the Kraken exchange, have resorted to this strategy. They are just as interested in sponsoring reputable content creators who promote products among loyal subscribers. The U.S. exchange sponsors the Reckless VR crypto start-up, founded by Udi Wertheimer for crypto-conferences in virtual reality, and the famous podcast Peter McCormack, who launched his own media brand Defiance last year. Having started his career as a hobby, McCormack turned it into a business of his life, thanks to which he earned about $1 million for 2019.
With all this, working with bloggers is a great opportunity to enter foreign markets. This is understood at Crypto.com, where they use opinion leaders to attract the Russian-speaking and Turkish-speaking community. Does this approach give a result? Judge for yourself: over the past six months, the number of startup users has doubled and currently stands at more than 2 million people.

Referral Bonuses and MLM Marketing

The development of products within the community often turns into MLM marketing strategies, which require the presence of referral bonuses and bonuses “in depth” — favorite schemes of cosmetic brands. They use a multi-level reward system for attracting partners, where you can usually get a bonus not only for personally invited, but also for “friends of friends and their friends”. Thus, opinion leaders who distribute crypto products often receive a portion of the funds that people invited by them will pay for the product / service.
The relevance and effectiveness of the trend is confirmed by the fact that these methods are not shy to use not only crypto start-ups, but also top cryptocurrency companies, widely known throughout the industry. A prime example is SatoshiLabs, a company that manufactures and distributes Trezor wallets. The head of communications, Iva Fizerova, confirmed that she is actively resorting to “affiliate marketing” with bloggers as an alternative to paying them for direct advertising.
No less vivid examples are the largest crypto exchanges Binance and Gemini, which managed to succeed not without the help of referral systems copied from the multi-level marketing campaigns Avon and Mary Kay, which they have been using for decades.
Instagram blogger Chjango Unchained has been earning good bonuses for several months running after posting a referral link to Gemini on her profile. When her subscribers register on the exchange and buy cryptocurrencies worth more than $100, she receives $10 in BTC. According to her, she is doing a good deed. The blogger wants people who are interested in her opinion on digital money to start their crypto path on Gemini, and not, for example, on Coinbase, because the latter charges “crazy commissions”.
Referral system bonuses are a typical phenomenon for many crypto companies, and successful bloggers are happy to use this. A prime example is Michael Gu, known by the pseudonym Boxmining. It has been distributing information about digital money since 2012, having gathered an audience of more than 200,000 subscribers on YouTube and more than 3,500 participants in Telegram chat during this time.
Despite the fact that the manufacturer of hardware wallets Ledger does not sponsor its activities, it places referral links in the video descriptions and collects voluntary donations from subscribers. As you might guess, he feels rather well. At the same time, he emphasized that user activity during the coronavirus pandemic is only growing, especially after YouTube began to put sticks in the wheels of the creators of crypto-content.

Gifts, contests and sweepstakes

Making a small gift is a great way to introduce an audience to a new product. In the cryptocurrency market, this has long been relevant.
Coin creators eagerly carry out airdrops and bounty campaigns, allowing the crypto community to test the new coin. A similar approach is popular in the beauty industry. Samplers of perfumes and branded magazines with smells have led many girls to buy full-fledged versions of the fragrance.
In addition to the cryptocurrency developers themselves, a similar approach is also used by cryptocompanies of a different direction, which cannot conduct airdrops due to their technical features (for example, this is true for manufacturers of hardware wallets). Therefore, they organize more classic contests and sweepstakes. For example, they play a wallet for reposting on social networks or videos published on YouTube.
It is noteworthy that cryptobrands in this area are even more active than cosmetics manufacturers. They work not only with trusted bloggers with many subscribers, but also help to become less “untwisted” users. Therefore, they periodically assist them in organizing draws in order to attract subscribers who could potentially become new customers.
Iva Fizerova from SatoshiLabs confirmed that Trezor manufacturers periodically help users attract new followers through the distribution of gifts. Moreover, this approach brings excellent results. By working with the community this way, they have managed to sell hundreds of thousands of wallets. But most importantly, a reputation of the brand has formed around the product, warmly received by the audience. And this effect is so strong that the company simply does not see the point in spending money on traditional expensive advertising.
Most importantly, despite all the problems of 2020, including the coronavirus pandemic, which seriously hit the global economy and, accordingly, people’s wallets, demand for products did not fall. This approach remains effective, while the percentage of successful conversions in traditional advertising has probably decreased. Fizerova noted that over the past three months they have recorded a steady increase in demand for goods. Moreover, they even had to solve delivery problems, if only the buyers got the desired devices in a timely manner.
A similar approach and results are observed with other manufacturers of hardware wallets. Thus, Rodolfo Novak, co-founder of Coinkite, confirmed the growth in demand for products, despite the pandemic. Working with the community is their main marketing strategy, because it really gives results. Over the past three years, they donated about 50 wallets to YouTube reviewers. Novak is proud that their “users help other users.” According to him, this approach allows you to sell products at a lower price, since the cost of goods does not include high costs for familiar marketing campaigns.

Are marketing strategies effective? More than

The cryptocurrency market relies on marketing strategies that have established themselves in the beauty industry, which in the new field are no less effective. Maximum performance is achieved with a killer combination of all three of the above methods. It’s about when the founders of cryptocompanies themselves become opinion leaders. Just look at Changpen Zhao, the head of Binance, or Justin Sun, the project manager of TRON. Both entrepreneurs are bloggers with a huge army of subscribers and are personally engaged in the promotion of their brands, regularly rewarding their audience with pleasant gifts.
It’s easy to guess why industry leaders rely mainly on this type of marketing. Advertising products in the traditional way is expensive, especially for startups, behind which there are still no attractive products with a good reputation. But more importantly, crypto products are quite complex in themselves, so they often need detailed explanations, which are difficult to implement in the framework of traditional advertising. Agree that selling a bottle of Fanta with a new taste is much easier than a hardware cryptocurrency wallet, especially since most people don’t understand what it is.
On top of that, regular advertising is complicated by the fact that media giants regularly block crypto content.
In such a situation, marketing borrowed from the beauty industry seems to be the most acceptable and most effective option. By focusing their marketing budgets on opinion leaders and working with the community, cryptocompanies achieve the desired result, even taking into account the coronavirus pandemic. The crypto community is getting bigger and stronger every day. But the best part is that this growth cannot be stopped.
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Transcript of Bitcoin ABC’s Amaury Sechet presenting at the Bitcoin Cash City conference on September 5th, 2019

Transcript of Bitcoin ABC’s Amaury Sechet presenting at the Bitcoin Cash City conference on September 5th, 2019
I tried my best to be as accurate as possible, but if there are any errors, please let me know so I can fix. I believe this talk is important for all Bitcoin Cash supporters, and I wanted to provide it in written form so people can read it as well as watch the video: https://www.youtube.com/watch?v=uOv0nmOe1_o For me, this was the first time I felt like I understood the issues Amaury's been trying to communicate, and I hope that reading this presentation might help others understand as well.
Bitcoin Cash’s Culture
“Okay. Hello? Can you hear me? The microphone is good, yeah?
Ok, so after that introduction, I’m going to do the only thing that I can do now, which is disappoint you, because well, that was quite something.
So usually I make technical talks and this time it’s going to be a bit different. I’m going to talk about culture in the Bitcoin Cash ecosystem. So first let’s talk about culture, like what is it? It’s ‘the social behaviors and norms found in human society.’
So we as the Bitcoin Cash community, we are a human society, or at least we look like it. You’re all humans as far as I know, and we have social behaviors and norms, and those social behaviors and norms have a huge impact on the project.
And the reason why I want to focus on that point very specifically is because we have better fundamentals and we have a better product and we are more useful than most other cryptos out there. And I think that’s a true statement, and I think this is a testimony of the success of BCH. But also, we are only just 3% of BTC’s value. So clearly there is something that we are not doing right, and clearly it’s not fundamental, it’s not product, it’s not usefulness. It’s something else, and I think this can be found somewhat in our culture.
So I have this quote here, from Naval Ravikant. I don’t know if you guys know him but he’s a fairly well known speaker and thinker, and he said, “Never trust anyone who does not annoy you from time to time, because it means that they are only telling you what you want to hear.”
And so today I am going to annoy you a bit, in addition to disappointing you, so yeah, it’s going to be very bad, but I feel like we kind of need to do it.
So there are two points, mainly, that I think our culture is not doing the right thing. And those are gonna be infrastructure and game theory. And so I’m going to talk a little bit about infrastructure and game theory.
Right, so, I think there are a few misconceptions by people that are not used to working in software infrastructure in general, but basically, it works like any other kind of infrastructure. So basically all kinds of infrastructure decay, and we are under the assumption that technology always gets better and better and better and never decays. But in terms of that, it actually decays all the time, and we have just a bunch of engineers working at many many companies that keep working at making it better and fighting that decay.
I’m going to take a few examples, alright. Right now if you want to buy a cathode ray tube television or monitor for your computer (I’m not sure why you want to do that because we have better stuff now), but if you want to buy that, it’s actually very difficult now. There are very little manufacturers that even know how to build them. We almost forgot as a human society how to build those stuff. Because, well, there was not as high of a demand for them as there was before, and therefore nobody really worked on maintaining the knowledge or the know how, and the factories, none of that which are required to build those stuff, and therefore we don’t build them. And this is the same for vinyl discs, right? You can buy vinyl disk today if you want, but it’s actually more expensive than it used to be twenty years ago.
We used to have space shuttles. Both Russia and US used to have space shuttles. And now only the US have space shuttles, and now nobody has space shuttles anymore.
And there is an even better counter example to that. It’s that the US, right now, is refining Uranium for nuclear weapons. Like on a regular basis there are people working on that problem. Except that the US doesn’t need any new uranium to make nuclear weapons because they are decommissioning the weapons that are too old and can reuse that uranium to build the new weapon that they are building. The demand for that is actually zero, and still there are people making it and they are just basically making it and storing it forever, and it’s never used. So why is the US spending money on that? Well you would say governments are usually pretty good at spending money on stuff that are not very useful, but in that case there is a very good reason. And the good reason is that they don’t want to forget how it’s done. Because maybe one day it’s going to be useful. And acquiring the whole knowledge of working with uranium and making enriched uranium, refining uranium, it’s not obvious. It’s a very complicated process. It involves very advanced engineering and physics, a lot of that, and keeping people working on that problem ensures that knowledge is kept through time. If you don’t do that, those people are going to retire and nobody will know how to do it. Right.
So in addition to decaying infrastructure from time to time, we can have zero days in software, meaning problems in the software that are not now exploited live on the network. We can have denial of service attack, we can have various failures on the network, or whatever else, so just like any other infrastructure we need people that essentially take care of the problem and fight the decay constantly doing maintenance and also be ready to intervene whenever there is some issue. And that means that even if there is no new work to be done, you want to have a large enough group of people that are working on that everyday just making it all nice and shiny so that when something bad happens, you have people that understand how the system works. So even if for nothing else, you want a large enough set of people working on infrastructure for that to be possible.
So we’re not quite there yet, and we’re very reliant on BTC. Because the software that we’re relying on to run the network is actually a fork to the BTC codebase. And this is not specific to Bitcoin Cash. This is also true for Litecoin, and Dash, and Zcash and whatever. There are many many crypotos that are just a fork of the Bitcoin codebase. And all those crypos they actually are reliant on BTC to do some maintenance work because they have smaller teams working on the infrastructure. And as a result any rational market cannot price those other currencies higher than BTC. It would just not make sense anymore. If BTC were to disappear, or were to fail on the market, and this problem is not addressed, then all those other currencies are going to fail with it. Right? And you know that may not be what we want, but that’s kind of like where we are right now.
So if we want to go to the next level, maybe become number one in that market, we need to fix that problem because it’s not going to happen without it.
So I was mentioning the 3% number before, and it’s always very difficult to know what all the parameters are that goes into that number, but one of them is that. Just that alone, I’m sure that we are going to have a lower value than BTC always as long as we don’t fix that problem.
Okay, how do we fix that problem? What are the elements we have that prevent us from fixing that problem? Well, first we need people with very specific skill sets. And the people that have experience in those skill sets, there are not that many of them because there are not that many places where you can work on systems involving hundreds of millions, if not billions of users, that do like millions of transactions per second, that have systems that have hundreds of gigabytes per second of throughput, this kind of stuff. There are just not that many companies in the world that operate on that scale. And as a result, the number of people that have the experience of working on that scale is also pretty much limited to the people coming out of those companies. So we need to make sure that we are able to attract those people.
And we have another problem that I talked about with Justin Bons a bit yesterday, that we don’t want to leave all that to be fixed by a third party.
It may seem nice, you know, so okay, I have a big company making good money, I’m gonna pay people working on the infrastructure for everybody. I’m gonna hire some old-time cypherpunk that became famous because he made a t-shirt about ERISA and i’m going to use that to promote my company and hire a bunch of developers and take care of the infrastructure for everybody. It’s all good people, we are very competent. And indeed they are very competent, but they don’t have your best interest in mind, they have their best interest in mind. And so they should, right? It’s not evil to have your own interest in mind, but you’ve got to remember that if you delegate that to others, they have their best interest in mind, they don’t have yours. So it’s very important that you have different actors that have different interests that get involved into that game of maintaining the infrastructure. So they can keep each other in check.
And if you don’t quite understand the value proposition for you as a business who builds on top of BCH, the best way to explain that to whoever is doing the financials of your company is as an insurance policy. The point of the insurance on the building where your company is, or on the servers, is so that if everything burns down, you can get money to get your business started and don’t go under. Well this is the same thing. Your business relies on some infrastructure, and if this infrastructure ends up going down, disappearing, or being taken in a direction that doesn’t fit your business, your business is toast. And so you want to have an insurance policy there that insures that the pieces that you’re relying on are going to be there for you when you need them.
Alright let’s take an example. In this example, I purposefully did not put any name because I don’t want to blame people. I want to use this as an example of a mistake that were made. I want you to understand that many other people have done many similar mistakes in that space, and so if all you take from what I’m saying here is like those people are bad and you should blame them, this is like completely the wrong stuff. But I also think it’s useful to have a real life example.
So on September 1st, at the beginning of the week, we had a wave of spam that was broadcasted on the network. Someone made like a bunch of transactions, and those were very visibly transactions that were not there to actually do transactions, they were there just to create a bunch of load on the network and try to disturb its good behavior.
And it turned out that most miners were producing blocks from 2 to 8 megabytes, while typical market demand is below half a megabyte, typically, and everything else above that was just spam, essentially. And if you ask any people that have experience in capacity planning, they are going to tell you that those limits are appropriate. The reason why, and the alternative to raising those limits that you can use to mitigate those side effects are a bit complicated and they would require a talk in and of itself to go into, so I’m going to just use an argument from authority here, but trust me, I know what I’m talking about here, and this is just like raising those limits is just not the solution. But some pool decided to increase that soft cap to 32 megs. And this has two main consequences that I want to dig in to explain what is not the right solution.
And the first one is that we have businesses that are building on BCH today. And those businesses are the ones that are providing value, they are the ones making our network valuable. Right? So we need to treat those people as first class citizens. We need to attract and value them as much as we can. And those people, they find themselves in the position where they can either dedicate their resources and their attention and their time to make their service better and more valuable for users, or maybe expand their service to more countries, to more markets, to whatever, they can do a lot of stuff, or they can spend their time and resources to make sure the system works not when you have like 10x the usual load, but also 100x the usual load. And this is something that is not providing value to them, this is something that is not providing value to us, and I would even argue that this is something that is providing negative value.
Because if those people don’t improve their service, or build new services, or expand their service to new markets, what’s going to happen is that we’re not going to do 100x. 100x happens because people provide useful services and people start using it. And if we distract those people so that they need to do random stuff that has nothing to do with their business, then we’re never going to do 100x. And so having a soft cap that is way way way above what is the usual market demand (32 megs is almost a hundred times what is the market demand for it), it’s actually a denial of service attack that you open for anyone that is building on the chain.
We were talking before, like yesterday we were asking about how do we attract developers, and one of the important stuff is that we need to value that over valuing something else. And when we take this kind of move, the signal that we send to the community, to the people working on that, is that people yelling very loudly on social media, their opinion is more valued than your work to make a useful service building on BCH. This is an extremely bad signal to send. So we don’t want to send those kind of signals anymore.
That’s the first order effect, but there’s a second order effect, and the second order effect is to scale we need people with experience in capacity planning. And as it turns out big companies like Google, and Facebook, and Amazon pay good money, they pay several 100k a year to people to do that work of capacity planning. And they wouldn’t be doing that if they just had to listen to people yelling on social media to find the answer. Right? It’s much cheaper to do the simple option, except the simple option is not very good because this is a very complex engineering problem. And not everybody is like a very competent engineer in that domain specifically. So put yourself in the shoes of some engineers who have skills in that particular area. They see that happening, and what do they see? The first thing that they see is that if they join that space, they’re going to have some level of competence, some level of skill, and it’s going to be ignored by the leaders in that space, and ignoring their skills is not the best way to value it as it turns out. And so because of that, they are less likely to join it. But there is a certain thing that they’re going to see. And that is that because they are ignored, some shit is going to happen, some stuff are going to break, some attacks are going to be made, and who is going to be called to deal with that? Well, it’s them. Right? So not only are they going to be not valued for their stuff, the fact that they are not valued for their stuff is going to put them in a situation where they have to put out a bunch of fires that they would have known to avoid in the first place. So that’s an extremely bad value proposition for them to go work for us. And if we’re going to be a world scale currency, then we need to attract those kinds of people. And so we need to have a better value proposition and a better signaling that we send to them.
Alright, so that’s the end of the first infrastructure stuff. Now I want to talk about game theory a bit, and specifically, Schelling points.
So what is a Schelling point? A Schelling point is something that we can agree on without especially talking together. And there are a bunch of Schelling points that exist already in the Bitcoin space. For instance we all follow the longest chain that have certain rules, right? And we don’t need to talk to each other. If I’m getting my wallet and I have some amount of money and I go to any one of you here and you check your wallet and you have that amount of money and those two amounts agree. We never talk to each other to come to any kind of agreement about how much each of us have in terms of money. We just know. Why? Because we have a Schelling point. We have a way to decide that without really communicating. So that’s the longest chain, but also all the consensus rules we have are Schelling points. So for instance, we accept blocks up to a certain size, and we reject blocks that are bigger than that. We don’t constantly talk to each other like, ‘Oh by the way do you accept 2 mb blocks?’ ‘Yeah I do.’ ‘Do you accept like 3 mb blocks? And tomorrow will you do that?’
We’re not doing this as different actors in the space, constantly worrying each other. We just know there is a block size that is a consensus rule that is agreed upon by almost everybody, and that’s a consensus rule. And all the other consensus rules are effectively changing Schelling points. And our role as a community is to create valuable Schelling points. Right? You want to have a set of rules that provide as much value as possible for different actors in the ecosystem. Because this is how we win. And there are two parts to that. Even though sometimes we look and it’s just one thing, but there are actually two things.
The first one is that we need to decide what is a valuable Schelling point. And I think we are pretty good at this. And this is why we have a lot of utility and we have a very strong fundamental development. We are very good at choosing what is a good Schelling point. We are very bad at actually creating it and making it strong.
So I’m going to talk about that.
How do you create a new Schelling point. For instance, there was a block size, and we wanted a new block size. So we need to create a new Schelling point. How do you create a new Schelling point that is very strong? You need a commitment strategy. That’s what it boils down to. And the typical example that is used when discussing Schelling points is nuclear warfare. So think about that a bit. You have two countries that both have nuclear weapons. And one country sends a nuke on the other country. Destroys some city, whatever, it’s bad. When you look at it from a purely rational perspective, you will assume that people are very angry, and that they want to retaliate, right? But if you put that aside, there is actually no benefit to retaliating. It’s not going to rebuild the city, it’s not going to make them money, it’s not going to give them resources to rebuild it, it’s not going to make new friends. Usually not. It’s just going to destroy some stuff in the other guy that would otherwise not change anything because the other guys already did the damage to us. So if you want nuclear warfare to actually prevent war like we’ve seen mostly happening in the past few decades with the mutually assured destruction theory, you need each of those countries to have a very credible commitment strategy, which is if you nuke me, I will nuke you, and I’m committing to that decision no matter what. I don’t care if it’s good or bad for me, if you nuke me, I will nuke you. And if you can commit to that strongly enough so that it’s credible for other people, it’s most likely that they are not going to nuke you in the first place because they don’t want to be nuked. And it’s capital to understand that this commitment strategy, it’s actually the most important part of it. It’s not the nuke, it’s not any of it, it’s the commitment strategy. You have the right commitment strategy, you can have all the nuke that you want, it’s completely useless, because you are not deterring anyone from attacking you.
There are many other examples, like private property. It’s something usually you’re going to be willing to put a little bit of effort to defend, and the effort is usually way higher than the value of the property itself. Because this is your house, this is your car, this is your whatever, and you’re pretty committed to it, and therefore you create a Schelling point over the fact that this is your house, this is your car, this is your whatever. People are willing to use violence and whatever to defend their property. This is effectively, even if you don’t do it yourself, this is what happens when you call the cops, right? The cops are like you stop violating that property or we’re going to use violence against you. So people are willing to use a very disproportionate response even in comparison to the value of the property. And this is what is creating the Schelling point that allows private property to exist.
This is the commitment strategy. And so the longest chain is a very simple example. You have miners and what miners do when they create a new block, essentially they move from one Schelling point when a bunch of people have some amount of money, to a new Schelling point where some money has moved, and we need to agree to the new Schelling point. And what they do is that they commit a certain amount of resources to it via proof of work. And this is how they get us to pay attention to the new Schelling point. And so UASF is also a very good example of that where people were like we activate segwit no matter what, like, if it doesn’t pan out, we just like busted our whole chain and we are dead.
Right? This is like the ultimate commitment strategy, as far as computer stuff is involved. It’s not like they actually died or anything, but as far as you can go in the computer space, this is very strong commitment strategy.
So let me take an example that is fairly inconsequential in its consequences, but I think explains very well. The initial BCH ticker was BCC. I don’t know if people remember that. Personally I remember reading about it. It was probably when we created it with Jonald and a few other people. And so I personally was for XBC, but I went with BCC, and most people wanted BCC right? It doesn’t matter. But it turned out that Bitfinex had some Ponzi scheme already listed as BCC. It was Bitconnect, if you remember. Carlos Matos, you know, great guy, but Bitconnect was not exactly the best stuff ever, it was a Ponzi scheme. And so as a result Bitifnex decided to list Bitcoin Cash as BCH instead of BCC, and then the ball started rolling and now everybody uses BCH instead of BCC.
So it’s not all that bad. The consequences are not that very bad. And I know that many of you are thinking that right now. Why is this guy bugging us about this? We don’t care if it’s BCC or BCH. And if you’re doing that, you are exactly proving my point.
Because … there are people working for Bitcoin.com here right? Yeah, so Bitcoin.com is launching an exchange, or just has launched, it’s either out right now or it’s going to be out very soon. Well think about that. Make this thought experiment for yourself. Imagine that Bitcoin.com lists some Ponzi scheme as BTC, and then they decide to list Bitcoin as BTN. What do you think would be the reaction of the Bitcoin Core supporter? Would they be like, you know what? we don’t want to be confused with some Ponzi scheme so we’re going to change everything for BTN. No, they would torch down Roger Ver even more than they do now, they would torch down Bitcoin.com. They would insult anyone that would suggest that this was a good idea to go there. They would say that everyone that uses the stuff that is BTC that it’s a ponzi scheme, and that it’s garbage, and that if you even talk about it you are the scum of the earth. Right? They would be extremely committed to whatever they have.
And I think this is a lesson that we need to learn from them. Because even though it’s a ticker, it’s not that important, it’s that attitude that you need to be committed to that stuff if you want to create a strong Schelling point, that allows them to have a strong Schelling point, and that does not allow us to have that strong of a Schelling point.
Okay, so yesterday we had the talk by Justin Bons from Cyber Capital, and one of the first things he said in his talk, is that his company has a very strong position in BCH. And so that changed the whole tone of the talk. You gotta take him seriously because his money is where his mouth is. You know that he is not coming on the stage and telling you random stuff that comes from his mind or tries to get you to do something that he doesn’t try himself. That doesn’t mean he’s right. Maybe he’s wrong, but if he’s wrong, he’s going bankrupt. And you know just for that reason, maybe it’s worth it to listen to it a bit more than some random person saying random stuff when they have no skin in the game.
And it makes him more of a leader in the space. Okay we have some perception in this space that we have a bunch of leaders, but many of them don’t have skin in the game. And it is very important that they do. So when there is some perceived weakness from BCH, if you act as an investor, you are going to diversify. If you act as a leader, you are going to fix that weakness. Right? And so, leaders, it’s not like you can come here and decide well, I’m a leader now. Leaders are leaders because people follow them. It seems fairly obvious, but … and you are the people following the leaders, and I am as well. We decide to follow the opinion of some people more than the opinion of others. And those are the defacto leaders of our community. And we need to make sure that those leaders that we have like Justin Bons, and make sure that they have a strong commitment to whatever they are leading you to, because otherwise you end up in this situation:

https://preview.redd.it/r23dptfobcl31.jpg?width=500&format=pjpg&auto=webp&s=750fbd0f1dc0122d2791accc59f45a235a522444
Where you got a leader, he’s getting you to go somewhere, he has some goal, he has some whatever. In this case he is not that happy with the British people. But he’s like give me freedom or give me death, and he’s going to fight the British, but at the same time he’s like you know what? Maybe this shit isn’t gonna pan out, you gotta make sure you have your backup plan together, you have your stash of British pound here. You know, many of us are going to die, but that’s a sacrifice I’m willing to make.
That’s not the leader that you want.
I’m going to go to two more examples and then we’re going to be done with it. So one of them is Segwit 2x. Segwit 2x came with a time where some people wanted to do UASF. And UASF was essentially people that set up a modified version of their Bitcoin node that would activate segwit on August 1, no matter what. Right? No matter what miners do, no matter what other people do, it’s going to activate segwit. And either I’m going to be on the other fork, or I’m going to be alone and bust. Well, the alternative proposal was segwit 2x. Where people would activate segwit and then increase the size of the block. And what happened was that one of the sides had a very strong commitment strategy, and the other side, instead of choosing a proportional commitment strategy, what they did was that they modified the activation of segwit 2x to be compatible with UASF. And in doing so they both validate the commitment strategy done by the opposite side, and they weaken their own commitment strategy. So if you look at that, and you understand game theory a bit, you know what’s going to happen. Like the fight hasn’t even started and UASF has already won. And when I saw that happening, it was a very important development to me, because I have some experience in game theory, a lot of that, so I understood what was happening, and this is what led me to commit to BCH, which was BCC at the time, 100%. Because I knew segwit 2x was toast, even though it had not even started, because even though they had very strong cards, they are not playing their cards right, and if you don’t play your cards right, it doesn’t matter how strong your cards are.
Okay, the second one is emergent consensus. And the reason I wanted to put those two examples here is because I think those are the two main examples that lead to the fact that BTC have small blocks and we have big blocks and we’re a minority chain. Those are like the two biggest opportunities we had to have big blocks on BTC and we blew both of them for the exact same reason.
So emergent consensus is like an interesting technology that allows you to trade your bigger block without splitting the network. Essentially, if someone starts producing blocks that are bigger than … (video skips) ,,, The network seems to be following the chain that has larger blocks, eventually they’re going to fall back on that chain, and that’s a very clevery mechanism that allows you to make the consensus rules softer in a way, right? When everybody has the same consensus rules, it still remains enforced, but if a majority of people want to move to a new point, they can do so by bringing others with them without creating a fork. That is a very good activation mechanism for changing the block size, for instance, or it can be used to activate other stuff.
There is a problem, though. This mechanism isn’t able to set a new point. It’s a way to activate a new Schelling point when you have one, but it provides no way to decide when and where or to what value or to anything to where we are going. So this whole strategy lacks the commitment aspect of it. And because it lacks the commitment aspect of it, it was unable to activate properly. It was good, but it was not sufficient in itself. It needs to be combined with a commitment strategy. And especially on that one there are some researchers that wrote a whole paper (https://eprint.iacr.org/2017/686.pdf) unpacking the whole game theory that essentially come to that conclusion that it’s not going to set a new size limit because it lacked the commitment aspect of it. But they go on like they model all the mathematics of it, they give you all the numbers, the probability, and the different scenarios that are possible. It’s a very interesting paper. If you want to see, like, because I’m kind of explaining the game theory from a hundred mile perspective, but actually you can deep dive into it and if you want to know the details, they are in there. People are doing that. This is an actual branch of mathematics.
Alright, okay so conclusion. We must avoid to weaken our commitment strategy. And that means that we need to work in a way where first there is decentralization happening. Everybody has ideas, and we fight over them, we decide where we want to go, we put them on the roadmap, and once it’s on the roadmap, we need to commit to it. Because when people want to go like, ‘Oh this is decentralized’ and we do random stuff after that, we actually end up with decentralization, not decentralization in a cooperative manner, but like in an atomization manner. You get like all the atoms everywhere, we explode, we destroy ourself.
And we must require a leader to have skin in the game, so that we make sure we have good leaders. I have a little schema to explain that. We need to have negotiations between different parties, and because there are no bugs, the negotiation can last for a long time and be tumultuous and everything, and that’s fine, that’s what decentralization is looking like at that stage, and that’s great and that makes the system strong. But then once we made a decision, we got to commit to it to create a new Schelling point. Because if we don’t, the new Schelling point is very weak, and we get decentralization in the form of disintegration. And I think we have not been very good to balance the two. Essentially what I would like for us to do going forward is encouraging as much as possible decentralization in the first form. But consider people who participate in the second form, as hostile to BCH, because their behavior is damaging to whatever we are doing. And they are often gonna tell you why we can’t do that because it’s permissionless and decentralized, and they are right, this is permissionless and decentralized, and they can do that. We don’t have to take it seriously. We can show them the door. And not a single person can do that by themself, but as a group, we can develop a culture where it’s the norm to do that. And we have to do that.”
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How To Get A Bitcoin Wallet: Blue Wallet for iPhone and Android Bitcoin Wallet bei Blockchain anlegen БИТКОЙН кошелек TREZOR Bitcoin Wallet Setting Up a Bitcoin Wallet Live How to Create A Bitcoin Wallet Account

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